Allworth Financial LP Buys 8,048 Shares of Medtronic PLC $MDT

Allworth Financial LP lifted its position in Medtronic PLC (NYSE:MDT) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,859 shares of the medical technology company’s stock after acquiring an additional 8,048 shares during the quarter. Allworth Financial LP’s holdings in Medtronic were worth $3,998,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after acquiring an additional 810,854 shares during the period. Bank of New York Mellon Corp increased its position in Medtronic by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after buying an additional 595,549 shares in the last quarter. Deutsche Bank AG grew its position in Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Invesco Ltd. lifted its position in Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after acquiring an additional 1,535,308 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after buying an additional 3,461,221 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 2.9%

MDT opened at $95.32 on Wednesday. The firm has a market cap of $122.27 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The business’s 50 day moving average is $94.24 and its two-hundred day moving average is $90.18. 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 posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’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 transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following 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 SEC filing for this purchase provides additional information. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on MDT. Wells Fargo & Company raised their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Argus raised their target price on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Sanford C. Bernstein reissued an “outperform” rating and set a $98.00 target price on shares of Medtronic in a research note on Friday, October 31st. Morgan Stanley restated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group reduced their target price on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price 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.