Avantax Advisory Services Inc. Boosts Stake in Medtronic PLC $MDT

Avantax Advisory Services Inc. increased its holdings in Medtronic PLC (NYSE:MDT) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,823 shares of the medical technology company’s stock after acquiring an additional 6,391 shares during the period. Avantax Advisory Services Inc.’s holdings in Medtronic were worth $13,322,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MDT. Legacy Advisory Services LLC purchased a new stake in shares of Medtronic in the 1st quarter worth about $541,000. GC Wealth Management RIA LLC grew its holdings 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 period. Verdence Capital Advisors LLC increased its stake in shares of Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 5,296 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Medtronic by 1.9% during the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after purchasing an additional 2,868 shares during the last quarter. Finally, Sivik Global Healthcare LLC boosted its position in shares of Medtronic by 6.7% in the 2nd 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 in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

MDT opened at $95.92 on Monday. The company has a market cap of $123.04 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 2.42 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 firm’s 50-day moving average price is $94.43 and its 200-day moving average price is $90.43. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The business 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company’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 sale, the executive vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDT. Stifel Nicolaus raised their price objective on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday. Truist Financial increased their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Wells Fargo & Company raised their price objective 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.06.

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.