Jupiter Wealth Management LLC Sells 6,000 Shares of Medtronic PLC $MDT

Key Points

• Jupiter Wealth Management LLC sold 6,000 shares of Medtronic PLC, reducing its holdings by 50% during the first quarter, now owning shares valued at $522,000.
• Multiple hedge funds, including Boston Partners and Ameriprise Financial Inc., have increased their stakes in Medtronic, indicating a strong interest from institutional investors.
• Analysts have raised price targets for Medtronic, with a consensus target of $102.14, and ratings indicating a general positive outlook for the stock.

Jupiter Wealth Management LLC reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 50.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the medical technology company's stock after selling 6,000 shares during the period. Jupiter Wealth Management LLC's holdings in Medtronic were worth $522,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock valued at $2,001,903,000 after purchasing an additional 1,461,841 shares during the period. Bank of New York Mellon Corp increased its position in shares of Medtronic by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after acquiring an additional 756,192 shares during the last quarter. Deutsche Bank AG increased its position in shares of Medtronic by 3.1% during the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock worth $1,708,220,000 after acquiring an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after acquiring an additional 1,535,308 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the 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 purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several research analyst reports. Sanford C. Bernstein boosted 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. Argus upped their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Leerink Partners started coverage on Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target on the stock. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Finally, Robert W. Baird boosted their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Price Performance

Shares of MDT traded down $0.20 during mid-day trading on Friday, hitting $94.05. 7,334,188 shares of the company traded hands, compared to its average volume of 6,888,095. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $91.50 and a 200 day moving average of $88.28. The stock has a market capitalization of $120.64 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is presently 78.24%.

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.