Integrity Alliance LLC. Sells 8,248 Shares of Medtronic PLC $MDT

Integrity Alliance LLC. trimmed its stake in Medtronic PLC (NYSE:MDT) by 67.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,069 shares of the medical technology company’s stock after selling 8,248 shares during the period. Integrity Alliance LLC.’s holdings in Medtronic were worth $355,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Legacy Advisory Services LLC bought a new stake in Medtronic in the first quarter worth about $541,000. GC Wealth Management RIA LLC lifted its stake in 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 worth $2,926,000 after purchasing an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 5,296 shares during the last quarter. Sivik Global Healthcare LLC lifted its stake in Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after purchasing an additional 5,000 shares during the last quarter. Finally, World Investment Advisors lifted its stake in Medtronic by 1.9% in the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after purchasing an additional 2,868 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of MDT stock opened at $90.82 on Friday. The firm 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. The company’s 50 day moving average is $94.35 and its 200 day moving average is $89.72. 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 52-week low of $79.29 and a 52-week high of $99.37.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. 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 payout ratio is currently 78.24%.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were acquired at an average cost 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. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction 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 $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on MDT. Evercore ISI raised their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Daiwa Capital Markets lifted their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Mizuho lifted 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. Finally, Citigroup lifted 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 analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.