Alliance Wealth Advisors LLC UT Has $4.51 Million Position in Medtronic PLC $MDT

Key Points

• Alliance Wealth Advisors LLC UT reduced its stake in Medtronic PLC by 7.9% in the first quarter, now holding 50,128 shares valued at approximately $4.5 million.
• Institutional ownership of Medtronic stands at 82.06%, with major stakeholders like Vanguard Group and Massachusetts Financial Services increasing their investments recently.
• The company declared a quarterly dividend of $0.71 per share, set to be paid on October 17th, representing a yield of 3.1% and a payout ratio of 78.45%.

Alliance Wealth Advisors LLC UT reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,128 shares of the medical technology company's stock after selling 4,328 shares during the quarter. Medtronic makes up about 1.2% of Alliance Wealth Advisors LLC UT's investment portfolio, making the stock its 15th biggest holding. Alliance Wealth Advisors LLC UT's holdings in Medtronic were worth $4,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Brighton Jones LLC increased its holdings in 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 last quarter. Marshall Wace LLP grew its holdings in Medtronic by 280.7% in the 4th quarter. Marshall Wace LLP now owns 408,323 shares of the medical technology company's stock worth $32,617,000 after buying an additional 301,074 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Medtronic by 28.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,498,272 shares of the medical technology company's stock worth $119,682,000 after buying an additional 335,925 shares in the last quarter. Alpha DNA Investment Management LLC grew its holdings in Medtronic by 73.4% in the 4th quarter. Alpha DNA Investment Management LLC now owns 22,168 shares of the medical technology company's stock worth $1,771,000 after buying an additional 9,387 shares in the last quarter. Finally, Allred Capital Management LLC bought a new position in Medtronic in the 4th quarter worth approximately $216,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT traded up $3.4460 on Wednesday, reaching $93.3460. 9,762,619 shares of the company traded hands, compared to its average volume of 7,737,892. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The company's 50 day moving average is $89.47 and its 200-day moving average is $87.98. The stock has a market capitalization of $119.65 billion, a PE ratio of 25.81, a P/E/G ratio of 2.41 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last issued 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 business had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%.Medtronic's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MDT shares. Royal Bank Of Canada decreased their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. William Blair raised Medtronic to a "hold" rating in a report on Friday, July 11th. UBS Group increased their price target on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday. Sanford C. Bernstein increased their price target on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $98.63.

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.