Exencial Wealth Advisors LLC Sells 6,452 Shares of Medtronic PLC $MDT

Key Points

• Exencial Wealth Advisors LLC has reduced its stake in Medtronic PLC by 4.3%, selling 6,452 shares during the second quarter, leaving them with 143,136 shares valued at approximately $12.48 million.
• Medtronic recently reported quarterly earnings, with an EPS of $1.26, surpassing expectations, and a revenue of $8.58 billion, reflecting a 7.7% year-over-year increase.
• The company announced a quarterly dividend of $0.71 per share, yielding about 3.0%, and reported a dividend payout ratio of 78.24%.

Exencial Wealth Advisors LLC lessened its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,136 shares of the medical technology company's stock after selling 6,452 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Medtronic were worth $12,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1248 Management LLC purchased a new stake in shares of Medtronic during the 1st quarter worth $26,000. Columbia River Financial Group LLC purchased a new stake in Medtronic in the first quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in Medtronic in the first quarter valued at about $29,000. Activest Wealth Management raised 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 last quarter. Finally, Hughes Financial Services LLC purchased a new stake in Medtronic in the first quarter valued at about $32,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 0.1%

Medtronic stock opened at $95.84 on Wednesday. The firm has a market cap of $122.93 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.78. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The business's 50-day moving average price is $94.20 and its 200 day moving average price is $89.13. 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 (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic's dividend payout ratio (DPR) is 78.24%.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction on Monday, August 25th. The stock was acquired at an average cost 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 trade 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 company insiders.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Citigroup increased their price target on Medtronic from $101.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Wells Fargo & Company increased their price objective on Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Sanford C. Bernstein increased their price objective on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. UBS Group increased their price objective on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Finally, Robert W. Baird increased their price objective on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

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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