Florida Trust Wealth Management Co Sells 19,058 Shares of Medtronic PLC $MDT

Florida Trust Wealth Management Co trimmed its stake in Medtronic PLC (NYSE:MDT) by 34.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,841 shares of the medical technology company’s stock after selling 19,058 shares during the quarter. Florida Trust Wealth Management Co’s holdings in Medtronic were worth $2,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC increased its stake in shares of Medtronic by 50.0% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 12,702 shares of the medical technology company’s stock worth $997,000 after purchasing an additional 4,234 shares during the last quarter. Krilogy Financial LLC lifted its stake in Medtronic by 20.3% in the second quarter. Krilogy Financial LLC now owns 17,986 shares of the medical technology company’s stock valued at $1,407,000 after purchasing an additional 3,033 shares during the last quarter. Ascentis Wealth Management LLC lifted its stake in Medtronic by 3,008.7% in the second quarter. Ascentis Wealth Management LLC now owns 213,477 shares of the medical technology company’s stock valued at $16,700,000 after purchasing an additional 206,610 shares during the last quarter. New Hampshire Trust grew its holdings in Medtronic by 22.2% during the second quarter. New Hampshire Trust now owns 9,579 shares of the medical technology company’s stock valued at $749,000 after purchasing an additional 1,738 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Medtronic by 7.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 241,070 shares of the medical technology company’s stock worth $18,859,000 after buying an additional 17,053 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. Mizuho dropped their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Stifel Nicolaus set a $80.00 price objective on Medtronic in a report on Wednesday, June 3rd. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Finally, BTIG Research reiterated a “buy” rating and issued a $91.00 target price on shares of Medtronic in a research note on Monday, July 13th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Price Performance

Shares of NYSE MDT opened at $90.69 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock has a market cap of $116.09 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.55. The stock has a fifty day moving average of $83.01 and a 200-day moving average of $86.33.

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

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Insider Buying and Selling

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

About Medtronic

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).