GC Wealth Management RIA LLC Sells 17,261 Shares of Medtronic PLC $MDT

GC Wealth Management RIA LLC reduced its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 28.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,426 shares of the medical technology company's stock after selling 17,261 shares during the period. GC Wealth Management RIA LLC's holdings in Medtronic were worth $4,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Corundum Trust Company INC bought a new position in Medtronic during the third quarter valued at approximately $27,000. Lodestone Wealth Management LLC bought a new position in Medtronic during the fourth quarter valued at approximately $27,000. Valley Wealth Managers Inc. bought a new position in Medtronic during the third quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in Medtronic during the fourth quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic during the fourth quarter valued at approximately $29,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company's stock.

Medtronic Price Performance

MDT opened at $81.88 on Wednesday. The company's 50-day simple moving average is $89.15 and its two-hundred day simple moving average is $95.02. Medtronic PLC has a 52-week low of $79.93 and a 52-week high of $106.33. The stock has a market capitalization of $105.13 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.15 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts predict that Medtronic PLC will post 5.57 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, March 27th. Medtronic's dividend payout ratio is 79.11%.

Analyst Ratings Changes

A number of brokerages have commented on MDT. William Blair upgraded shares of Medtronic from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 6th. CICC Research started coverage on shares of Medtronic in a report on Friday, January 30th. They issued an "outperform" rating on the stock. Sanford C. Bernstein raised their target price on shares of Medtronic from $111.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, January 9th. Weiss Ratings cut shares of Medtronic from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, April 21st. Finally, Citigroup cut their target price on shares of Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.80.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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