Medtronic PLC $MDT Shares Sold by Marks Group Wealth Management Inc

Key Points

• Marks Group Wealth Management Inc reduced its stake in Medtronic PLC by 17.8% during the 2nd quarter, now holding 28,826 shares valued at approximately $2.5 million.
• Medtronic reported a 7.7% year-over-year revenue increase for the last quarter, totaling $8.58 billion, and beat earnings per share expectations with a reported $1.26.
• The company announced a quarterly dividend of $0.71 per share, with an ex-dividend date set for September 26th, reflecting a 2.9% dividend yield.

Marks Group Wealth Management Inc decreased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 17.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,826 shares of the medical technology company's stock after selling 6,227 shares during the period. Marks Group Wealth Management Inc's holdings in Medtronic were worth $2,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 1248 Management LLC purchased a new stake in shares of Medtronic during the 1st quarter worth approximately $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic during the 1st quarter worth approximately $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic during the 1st quarter worth approximately $29,000. Activest Wealth Management boosted its stake in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after acquiring an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

MDT stock opened at $97.63 on Monday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $97.94. The stock's fifty day simple moving average is $92.94 and its 200-day simple moving average is $88.46. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $125.23 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MDT shares. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Friday. UBS Group increased their target price on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Morgan Stanley reiterated an "overweight" rating and set a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Medtronic in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.94.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company's stock.

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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