Drucker Wealth 3.0 LLC Has $2.61 Million Holdings in Medtronic PLC $MDT

Key Points

• Drucker Wealth 3.0 LLC reduced its holdings in Medtronic PLC by 32.1%, now owning 29,362 shares valued at approximately $2.61 million.
• Analysts have varied opinions on Medtronic, with price targets ranging from $81.00 to $115.00, indicating a general consensus of a "Moderate Buy" rating.
• Medtronic recently declared a quarterly dividend of $0.71 per share, representing a yield of 3.0% and a payout ratio of 78.24%.

Drucker Wealth 3.0 LLC cut its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 32.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,362 shares of the medical technology company's stock after selling 13,884 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Medtronic were worth $2,613,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Medtronic in the first quarter valued at approximately $26,000. Columbia River Financial Group LLC acquired a new position in Medtronic in the first quarter valued at approximately $28,000. Twin Tree Management LP acquired a new position in Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management lifted its stake in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in Medtronic in the first quarter valued at approximately $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MDT shares. Leerink Partners started coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Stifel Nicolaus boosted their price objective on Medtronic from $90.00 to $105.00 and gave the company a "hold" rating in a report on Thursday. The Goldman Sachs Group decreased their price objective on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a report on Wednesday, October 1st. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Finally, Argus boosted their price objective on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $102.41.

Medtronic Trading Down 1.0%

Shares of Medtronic stock opened at $95.52 on Friday. The stock has a fifty day simple moving average of $93.56 and a 200 day simple moving average of $88.74. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Medtronic'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. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal 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 issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic's dividend payout ratio is 78.24%.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction on 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 transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.