Allen Mooney & Barnes Investment Advisors LLC Lowers Holdings in Medtronic PLC $MDT

Allen Mooney & Barnes Investment Advisors LLC trimmed its stake in Medtronic PLC (NYSE:MDT - Free Report) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,036 shares of the medical technology company's stock after selling 11,716 shares during the quarter. Medtronic accounts for 1.5% of Allen Mooney & Barnes Investment Advisors LLC's portfolio, making the stock its 27th biggest holding. Allen Mooney & Barnes Investment Advisors LLC's holdings in Medtronic were worth $10,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. AXQ Capital LP raised its holdings in shares of Medtronic by 109.9% during the second quarter. AXQ Capital LP now owns 28,303 shares of the medical technology company's stock valued at $2,214,000 after purchasing an additional 14,816 shares during the last quarter. Athena Investment Management purchased a new stake in Medtronic in the second quarter worth approximately $368,000. Strengthening Families & Communities LLC grew its holdings in shares of Medtronic by 7.1% in the second quarter. Strengthening Families & Communities LLC now owns 26,749 shares of the medical technology company's stock worth $2,093,000 after acquiring an additional 1,766 shares during the period. Waycross Investment Management Co bought a new stake in shares of Medtronic during the 2nd quarter valued at about $1,109,000. Finally, Tranquilli Financial Advisor LLC increased its position in shares of Medtronic by 37.6% during the 2nd quarter. Tranquilli Financial Advisor LLC now owns 9,712 shares of the medical technology company's stock valued at $760,000 after purchasing an additional 2,655 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MDT shares. TD Cowen raised their price objective on shares of Medtronic from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 28th. The Goldman Sachs Group reduced their target price on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. Mizuho set a $115.00 price target on shares of Medtronic in a research report on Wednesday. UBS Group lifted their price target on shares of Medtronic from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Medtronic in a research report on Tuesday, August 18th. Nineteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.92.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.87 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a market capitalization of $118.87 billion, a P/E ratio of 22.87, a P/E/G ratio of 2.16 and a beta of 0.56. The firm's 50 day simple moving average is $86.52 and its two-hundred day simple moving average is $85.31.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.89%. The firm had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $9.55 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Research analysts expect that Medtronic PLC will post 5.95 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio is 70.94%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s fiscal first-quarter results exceeded expectations, with adjusted EPS of $1.45 versus the $1.39 consensus and revenue of $9.76 billion versus $9.55 billion expected. Revenue increased 13.7% year over year, while management raised its fiscal 2027 outlook to approximately $5.94-$6.00 in EPS. Medtronic Begins Fiscal 2027 With a Beat-and-Raise
• Positive Sentiment: Analysts responded favorably to the earnings beat and raised guidance. RBC reaffirmed its Outperform rating with a $118 price target, while TD Cowen maintained a Buy rating; other firms also increased their targets. Medtronic Analysts Raise Their Forecasts
• Positive Sentiment: Management highlighted broad-based growth across major franchises and newer platforms, including robotics and ablation. Investors view this as evidence that Medtronic’s multiyear growth recovery may be gaining momentum. MDT Earnings Call Focuses on Broad Growth
• Positive Sentiment: A PERSIST addendum study is generating additional real-world evidence for Medtronic’s Inceptiv spinal cord stimulation system, potentially strengthening physician adoption and investor confidence. Medtronic’s PERSIST Study
• Positive Sentiment: Medtronic entered a strategic partnership with Cornerstone Robotics intended to expand global access to robot-assisted surgery, supporting its long-term robotics strategy. Cornerstone Robotics Partnership
• Negative Sentiment: Market strategists warned that Medtronic has become a crowded healthcare-sector trade. The recommendation included using options to bet on a decline, reflecting concern that excessive bullish positioning could limit further gains or trigger a pullback. Crowded Healthcare Stocks

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).

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