Arete Wealth Advisors LLC Sells 8,185 Shares of Medtronic PLC $MDT

Key Points

• Arete Wealth Advisors LLC has reduced its stake in Medtronic PLC by 26.1%, selling 8,185 shares and now holding 23,135 shares valued at approximately $2.08 million.
• Several analysts upgraded their ratings for Medtronic, with Citigroup raising its price target to $101.00 and Argus to $115.00, reflecting a consensus rating of "Moderate Buy" and an average target price of $102.14.
• Medtronic announced a quarterly dividend of $0.71 per share, representing an annual yield of 3.1%, with the payout ratio at 78.24%.

Arete Wealth Advisors LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,135 shares of the medical technology company's stock after selling 8,185 shares during the period. Arete Wealth Advisors LLC's holdings in Medtronic were worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC raised its position in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after buying an additional 185 shares during the last quarter. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $26,000. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter valued at approximately $29,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Citigroup boosted their price target on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Evercore ISI boosted their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Argus boosted their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $102.14.

Insiders Place Their Bets

In other news, Director William R. Jellison acquired 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Medtronic Trading Up 0.0%

MDT stock opened at $92.91 on Tuesday. 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 twelve month low of $79.29 and a twelve month high of $96.25. The stock has a market capitalization of $119.17 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The firm's fifty day simple moving average is $91.09 and its two-hundred day simple moving average is $88.16.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic's payout ratio is 78.24%.

About Medtronic

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.

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