Sequoia Financial Advisors LLC Buys 11,865 Shares of Medtronic PLC $MDT

Sequoia Financial Advisors LLC lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 37.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,790 shares of the medical technology company's stock after purchasing an additional 11,865 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Medtronic were worth $3,817,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. 1248 Management LLC acquired a new position in Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC bought a new position in Medtronic in the first quarter valued at about $28,000. Twin Tree Management LP bought a new position in Medtronic during the first quarter worth about $29,000. Activest Wealth Management boosted its holdings in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after buying an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new position in Medtronic during the first quarter worth about $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, 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 owned 35,615 shares of the company's stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Stock Performance

Shares of NYSE MDT opened at $96.56 on Wednesday. The stock has a 50 day moving average of $93.82 and a 200-day moving average of $88.85. The company has a market capitalization of $123.86 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.52 and a beta of 0.78. Medtronic PLC has a 12 month low of $79.29 and a 12 month 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.

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

Medtronic Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic's payout ratio is 78.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus raised their price target on Medtronic from $90.00 to $105.00 and gave the stock a "hold" rating in a research report on Thursday, October 9th. Daiwa Capital Markets raised their price target on Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $111.00 price target on shares of Medtronic in a research report on Friday. Truist Financial raised their price target on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Finally, Evercore ISI lifted their target price on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and a consensus price target of $102.41.

About Medtronic

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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