Forza Wealth Management LLC Acquires 610 Shares of Medtronic PLC $MDT

Forza Wealth Management LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 14.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,764 shares of the medical technology company’s stock after buying an additional 610 shares during the quarter. Forza Wealth Management LLC’s holdings in Medtronic were worth $415,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MDT. Brighton Jones LLC lifted 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 valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Fiduciary Alliance LLC raised its stake in shares of Medtronic by 2.9% in the first quarter. Fiduciary Alliance LLC now owns 6,053 shares of the medical technology company’s stock valued at $544,000 after acquiring an additional 169 shares during the period. Merit Financial Group LLC raised its stake in shares of Medtronic by 78.2% in the first quarter. Merit Financial Group LLC now owns 41,474 shares of the medical technology company’s stock valued at $3,727,000 after acquiring an additional 18,204 shares during the period. HBW Advisory Services LLC raised its stake in shares of Medtronic by 4.6% in the first quarter. HBW Advisory Services LLC now owns 35,865 shares of the medical technology company’s stock valued at $3,223,000 after acquiring an additional 1,581 shares during the period. Finally, Fulton Bank N.A. raised its stake in shares of Medtronic by 34.2% in the first quarter. Fulton Bank N.A. now owns 10,800 shares of the medical technology company’s stock valued at $970,000 after acquiring an additional 2,755 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.3%

NYSE:MDT opened at $95.23 on Wednesday. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a market cap of $122.15 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.47 and a beta of 0.77. The firm has a 50-day simple moving average of $92.73 and a 200-day simple moving average of $88.40.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The company’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 analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Insider Activity

In other news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MDT. Argus increased their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Sanford C. Bernstein increased their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Mizuho increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $102.27.

About Medtronic

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.