HBW Advisory Services LLC Sells 2,179 Shares of Medtronic PLC $MDT

HBW Advisory Services LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,686 shares of the medical technology company’s stock after selling 2,179 shares during the period. HBW Advisory Services LLC’s holdings in Medtronic were worth $2,936,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC boosted its holdings in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 185 shares in the last quarter. 1248 Management LLC purchased a new position in Medtronic in the first quarter valued at approximately $26,000. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the fourth quarter worth $27,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the first quarter valued at about $28,000. Finally, Twin Tree Management LP purchased a new stake in shares of Medtronic during the first quarter worth about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MDT. Wells Fargo & Company raised their target price 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. Evercore ISI lifted their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Robert W. Baird boosted their target price on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Citigroup upped 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. Finally, Mizuho upped their price target 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. One 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.14.

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.2%

Shares of Medtronic stock opened at $94.05 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The company has a market capitalization of $120.64 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.48 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $91.50 and a 200 day moving average of $88.28.

Medtronic (NYSE:MDT) last released 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. The firm had revenue of $8.58 billion during 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%. Medtronic’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

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.