Alteri Wealth LLC Has $888,000 Stock Holdings in Medtronic PLC $MDT

Alteri Wealth LLC boosted its stake in Medtronic PLC (NYSE:MDT) by 26.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,188 shares of the medical technology company’s stock after purchasing an additional 2,119 shares during the period. Alteri Wealth LLC’s holdings in Medtronic were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Boston Partners lifted its stake in shares of Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Medtronic by 28.8% in 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 purchasing an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Medtronic during the first quarter valued at about $260,649,000. Finally, Vanguard Group Inc. grew its holdings in shares of Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Cowen reiterated a “buy” rating on shares of Medtronic in a report on Friday. The Goldman Sachs Group decreased their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $98.00 price target on shares of Medtronic in a research note on Friday, October 31st. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Daiwa Capital Markets increased their price objective on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.06.

Medtronic Trading Up 4.7%

MDT opened at $100.83 on Wednesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $102.48. The company has a fifty day moving average of $94.64 and a 200-day moving average of $90.63. The stock has a market cap of $129.33 billion, a PE ratio of 27.78, 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.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 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 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the business’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 transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.26% of the stock is owned by insiders.

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.