Aviance Capital Partners LLC Boosts Stake in Medtronic PLC $MDT

Aviance Capital Partners LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 19.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,382 shares of the medical technology company’s stock after buying an additional 858 shares during the period. Aviance Capital Partners LLC’s holdings in Medtronic were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. 1248 Management LLC acquired a new position in shares of Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic during the first quarter worth $28,000. Twin Tree Management LP acquired a new position in shares of Medtronic during the first quarter worth $29,000. Activest Wealth Management increased its position in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in shares of Medtronic during the first quarter worth $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $90.82 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The stock’s fifty day moving average price is $94.35 and its 200 day moving average price is $89.72. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The company has a market cap of $116.49 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.42 and a beta of 0.78.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Insider Activity

In related news, 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, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MDT shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $98.00 price target on shares of Medtronic in a research report on Friday. Wells Fargo & Company upped their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Evercore ISI upped their price target on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. William Blair raised Medtronic to a “hold” rating in a research report on Friday, July 11th. Finally, BTIG Research reissued a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic 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.