Beverly Hills Private Wealth LLC Sells 613 Shares of Medtronic PLC $MDT

Beverly Hills Private Wealth LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 11.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,783 shares of the medical technology company’s stock after selling 613 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Medtronic were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Advisory Services LLC acquired a new position in shares of Medtronic in the first quarter valued at $541,000. GC Wealth Management RIA LLC increased its holdings in shares of Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after purchasing an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 5,296 shares during the last quarter. RNC Capital Management LLC increased its holdings in shares of Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after purchasing an additional 33,729 shares during the last quarter. Finally, Commerce Bank increased its holdings in shares of Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock valued at $13,118,000 after purchasing an additional 2,429 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Truist Financial upped their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wells Fargo & Company upped their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. The Goldman Sachs Group decreased their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research note on Wednesday, October 1st. Finally, Citigroup upped their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. One research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Insider Transactions at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, 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 currently owned by corporate insiders.

Medtronic Trading Up 0.2%

Shares of Medtronic stock opened at $95.97 on Tuesday. The company has a market capitalization of $123.10 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.78. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The firm’s 50-day moving average price is $94.13 and its two-hundred day moving average price is $89.08.

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

Medtronic Dividend Announcement

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

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.