Dynamic Advisor Solutions LLC Sells 5,412 Shares of Medtronic PLC $MDT

Key Points

• Dynamic Advisor Solutions LLC has reduced its stake in Medtronic PLC by 18.2%, selling 5,412 shares, leaving it with a total of 24,352 shares valued at approximately $2.12 million.
• Medtronic's stock has received several upgrades from analysts, with price targets raised by firms such as Wells Fargo and Mizuho, indicating a consensus rating of "Moderate Buy" with an average target price of $102.27.
• The company reported strong earnings, with $1.26 EPS for the latest quarter, exceeding estimates, and announced a quarterly dividend of $0.71 per share, representing a yield of 3.0%.

Dynamic Advisor Solutions LLC trimmed its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,352 shares of the medical technology company's stock after selling 5,412 shares during the period. Dynamic Advisor Solutions LLC's holdings in Medtronic were worth $2,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MDT. Legacy Advisory Services LLC purchased a new stake in Medtronic during the 1st quarter worth about $541,000. RNC Capital Management LLC grew its stake in Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock worth $37,474,000 after purchasing an additional 33,729 shares in the last quarter. Commerce Bank raised its holdings in shares of Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after buying an additional 2,429 shares during the last quarter. Brighton Jones LLC raised its holdings in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Finally, Cullen Investment Group LTD. grew its position in Medtronic by 7.2% during the 2nd quarter. Cullen Investment Group LTD. now owns 85,921 shares of the medical technology company's stock worth $7,490,000 after purchasing an additional 5,802 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 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 approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Stock Performance

NYSE:MDT traded down $0.68 during mid-day trading on Friday, hitting $94.91. The stock had a trading volume of 15,672,301 shares, compared to its average volume of 5,910,135. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company's 50 day simple moving average is $92.05 and its 200 day simple moving average is $88.37. The stock has a market cap of $121.74 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.52 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT - Get Free Report) last released 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 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 analyst estimates of $8.37 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. Medtronic's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend yield of 3.0%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDT. UBS Group increased their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Morgan Stanley restated an "overweight" rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Sanford C. Bernstein lifted their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Finally, Robert W. Baird upped their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.27.

Medtronic Company 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.