Tulsa Wealth Advisors INC Sells 11,865 Shares of Medtronic PLC $MDT

Tulsa Wealth Advisors INC lessened its position in shares of Medtronic PLC (NYSE:MDT) by 49.6% during the second quarter, Holdings Channel reports. The institutional investor owned 12,079 shares of the medical technology company’s stock after selling 11,865 shares during the quarter. Tulsa Wealth Advisors INC’s holdings in Medtronic were worth $945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Argent Trust Co lifted its holdings in Medtronic by 3.2% during the second quarter. Argent Trust Co now owns 95,511 shares of the medical technology company’s stock valued at $7,472,000 after purchasing an additional 2,985 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Medtronic in the second quarter worth about $4,618,000. Fielder Capital Group LLC purchased a new position in shares of Medtronic in the second quarter worth about $204,000. IAG Wealth Partners LLC bought a new stake in shares of Medtronic in the second quarter valued at approximately $30,000. Finally, CORDA Investment Management LLC. raised its position in shares of Medtronic by 9.0% in the second quarter. CORDA Investment Management LLC. now owns 296,967 shares of the medical technology company’s stock valued at $23,232,000 after purchasing an additional 24,604 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TD Cowen cut their price objective on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. The Goldman Sachs Group dropped their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.45 on Friday. The company has a 50 day moving average of $84.12 and a 200 day moving average of $86.01. The stock has a market cap of $118.33 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 0.55. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the firm posted $1.62 EPS. Medtronic’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is presently 77.21%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).