Medtronic PLC $MDT Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA trimmed its holdings in Medtronic PLC (NYSE:MDT) by 6.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 32,802 shares of the medical technology company’s stock after selling 2,092 shares during the period. Appleton Partners Inc. MA’s holdings in Medtronic were worth $2,859,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in shares of Medtronic during the 1st quarter worth about $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP purchased a new position in Medtronic in the 1st quarter valued at about $29,000. Activest Wealth Management lifted its stake in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Medtronic in the 1st quarter valued at about $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Up 2.3%

MDT stock opened at $97.63 on Monday. The company’s 50 day simple moving average is $92.94 and its 200-day simple moving average is $88.46. The firm has a market capitalization of $125.23 billion, a PE ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.78. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $97.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

MDT has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Truist Financial raised their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.94.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.