Medtronic PLC $MDT Holdings Decreased by Tectonic Advisors LLC

Key Points

• Tectonic Advisors LLC reduced its holdings in Medtronic PLC by 17.2%, owning 13,285 shares valued at approximately $1.16 million after selling 2,759 shares in Q2.
• Medtronic reported a quarterly earnings per share of $1.26, beating estimates, with revenue of $8.58 billion, a year-over-year increase of 7.7%.
• The company has declared a quarterly dividend of $0.71 per share, yielding 2.9%, with the payment date set for October 17th.

Tectonic Advisors LLC trimmed its position in Medtronic PLC (NYSE:MDT - Free Report) by 17.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,285 shares of the medical technology company's stock after selling 2,759 shares during the quarter. Tectonic Advisors LLC's holdings in Medtronic were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Advisory Services LLC acquired a new position in Medtronic during the 1st quarter worth $541,000. GC Wealth Management RIA LLC lifted its holdings in shares of Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company's stock valued at $2,926,000 after buying an additional 5,734 shares during the period. RNC Capital Management LLC lifted its holdings in shares of Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock valued at $37,474,000 after buying an additional 33,729 shares during the period. Commerce Bank lifted its holdings in shares of Medtronic by 1.7% in 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 period. Finally, Brighton Jones LLC lifted its holdings in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Down 1.5%

NYSE:MDT opened at $96.42 on Friday. The firm has a market capitalization of $123.68 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.58 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. 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's fifty day moving average price is $93.44 and its 200 day moving average price is $88.69.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts forecast 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. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is presently 78.24%.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was 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 directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Medtronic in a report on Wednesday. William Blair upgraded Medtronic to a "hold" rating in a report on Friday, July 11th. Morgan Stanley restated an "overweight" rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Finally, UBS Group upped 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. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $101.82.

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.

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