Exchange Traded Concepts LLC Sells 113,677 Shares of Medtronic PLC $MDT

Exchange Traded Concepts LLC cut its stake in Medtronic PLC (NYSE:MDT) by 54.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,431 shares of the medical technology company’s stock after selling 113,677 shares during the period. Exchange Traded Concepts LLC’s holdings in Medtronic were worth $9,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MDT. 1248 Management LLC acquired a new position in Medtronic during the first quarter worth $26,000. Delos Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 2nd quarter worth about $27,000. Twin Tree Management LP acquired a new stake in shares of Medtronic during the 1st quarter worth about $29,000. Activest Wealth Management lifted its holdings in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Medtronic in the second quarter valued at about $36,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.3%

Shares of MDT opened at $97.44 on Wednesday. The business’s fifty day moving average price is $97.44 and its two-hundred day moving average price is $93.61. The firm has a market capitalization of $124.92 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 2.57 and a beta of 0.71. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42.

Medtronic (NYSE:MDT) last issued its quarterly 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 return on equity of 14.86% and a net margin of 13.71%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s payout ratio is 76.55%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group set a $111.00 price objective on shares of Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Leerink Partners set a $120.00 price target on Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. Wells Fargo & Company boosted their price objective on Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Daiwa Capital Markets increased their target price on Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Finally, Sanford C. Bernstein set a $111.00 price target on Medtronic in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.94.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).