Demars Financial Group LLC Cuts Stock Holdings in Medtronic PLC $MDT

Demars Financial Group LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 99.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,815 shares of the medical technology company’s stock after selling 854,629 shares during the period. Demars Financial Group LLC’s holdings in Medtronic were worth $420,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MDT. 1248 Management LLC purchased a new stake in Medtronic during the 1st quarter worth approximately $26,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the 1st quarter worth approximately $28,000. Twin Tree Management LP purchased a new stake in Medtronic during the 1st quarter worth approximately $29,000. Activest Wealth Management increased its stake in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in Medtronic during the 1st quarter worth approximately $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MDT shares. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Daiwa Capital Markets boosted their target price on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their target price on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Trading Up 0.6%

Shares of Medtronic stock opened at $95.62 on Monday. The stock has a market cap of $122.65 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.52 and a beta of 0.78. The stock’s 50 day simple moving average is $94.07 and its 200-day simple moving average is $88.99. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. 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 data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio is currently 78.24%.

Insider Buying and Selling

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

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.