Allen Mooney & Barnes Investment Advisors LLC Buys 1,504 Shares of Medtronic PLC $MDT

Allen Mooney & Barnes Investment Advisors LLC grew its stake in Medtronic PLC (NYSE:MDT) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 135,812 shares of the medical technology company’s stock after acquiring an additional 1,504 shares during the period. Medtronic accounts for approximately 1.9% of Allen Mooney & Barnes Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Medtronic were worth $11,839,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacy Advisory Services LLC bought a new position in shares of Medtronic in the first quarter valued at about $541,000. Commerce Bank increased its position in Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after acquiring an additional 2,429 shares during the period. RNC Capital Management LLC increased its position in Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after acquiring an additional 33,729 shares during the period. Brighton Jones LLC increased its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Medtronic during the first quarter worth about $1,689,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup raised their price target on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. UBS Group raised their price target on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Royal Bank Of Canada lowered their price target on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Finally, Argus increased their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $102.14.

Medtronic Trading Down 0.2%

MDT opened at $94.05 on Monday. The company’s 50 day moving average is $91.50 and its 200-day moving average is $88.25. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market cap of $120.64 billion, a P/E ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77.

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

Medtronic Announces Dividend

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

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction 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 trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Medtronic Company Profile

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.