RFG Advisory LLC Sells 539 Shares of Medtronic PLC $MDT

RFG Advisory LLC reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.1% during the second quarter, HoldingsChannel reports. The firm owned 25,435 shares of the medical technology company’s stock after selling 539 shares during the period. RFG Advisory LLC’s holdings in Medtronic were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Medtronic during the first quarter valued at $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the first quarter valued at $28,000. Twin Tree Management LP bought a new position in Medtronic in the first quarter valued at about $29,000. Activest Wealth Management lifted its holdings in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new position in Medtronic in the first quarter valued at about $32,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on MDT shares. Stifel Nicolaus increased their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 9th. The Goldman Sachs Group lowered their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. Truist Financial increased their target price on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $95.29 on Thursday. 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 business has a 50-day simple moving average of $93.94 and a two-hundred day simple moving average of $88.90. The stock has a market cap of $122.23 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 2.54 and a beta of 0.78. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37.

Medtronic (NYSE:MDT) last released its 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 return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm’s revenue 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, analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders 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 yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 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.