StrongBox Wealth LLC Sells 3,523 Shares of Medtronic PLC $MDT

StrongBox Wealth LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 22.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,360 shares of the medical technology company’s stock after selling 3,523 shares during the quarter. StrongBox Wealth LLC’s holdings in Medtronic were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MDT. Burkett Financial Services LLC lifted its position in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. 1248 Management LLC bought a new stake in shares of Medtronic in the 1st quarter worth approximately $26,000. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the 1st quarter worth approximately $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic in the 1st quarter worth approximately $29,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.8%

NYSE:MDT opened at $94.19 on Wednesday. The firm’s 50-day moving average price is $91.72 and its 200-day moving average price is $88.30. The company has a market capitalization of $120.82 billion, a PE ratio of 25.95, a P/E/G ratio of 2.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share 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 company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date of this dividend is 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 currently 78.24%.

Analyst Ratings Changes

MDT has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Mizuho boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. UBS Group boosted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Finally, Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.14.

Insider Transactions at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s 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 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.

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.