Atria Wealth Solutions Inc. Decreases Stake in Medtronic PLC $MDT

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Medtronic PLC by 12.8% in Q2, after selling 14,573 shares, leaving the firm with 99,058 shares valued at approximately $8.7 million.
• Medtronic recently declared a quarterly dividend of $0.71 per share, yielding 3.0%, with an ex-dividend date set for September 26th.
• Analyst ratings for Medtronic show a consensus of "Moderate Buy," with several firms recently increasing their price targets for the stock, now averaging $102.41.

Atria Wealth Solutions Inc. cut its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,058 shares of the medical technology company's stock after selling 14,573 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Medtronic were worth $8,704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. 1248 Management LLC purchased a new stake in shares of Medtronic during the 1st quarter valued at approximately $26,000. Columbia River Financial Group LLC bought a new stake in Medtronic during the 1st quarter valued at $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic during the first quarter worth $29,000. Activest Wealth Management boosted its holdings in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic in the first quarter worth $32,000. Institutional investors own 82.06% of the company's stock.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William R. Jellison acquired 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by insiders.

Medtronic Trading Down 1.0%

MDT opened at $95.52 on Monday. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The business has a 50 day simple moving average of $93.56 and a two-hundred day simple moving average of $88.74. The firm has a market capitalization of $122.52 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period in the previous year, the firm earned $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. Analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors 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 annualized dividend and a dividend yield of 3.0%. Medtronic's payout ratio is currently 78.24%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MDT shares. Citigroup boosted their price objective on Medtronic from $101.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Morgan Stanley reissued an "overweight" rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Daiwa Capital Markets increased their target price on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, Mizuho upped their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and an average target price of $102.41.

Medtronic 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.

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