Smith Salley Wealth Management Has $14.19 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Smith Salley Wealth Management has reduced its holdings in Medtronic PLC by 9.7%, now owning 162,769 shares valued at approximately $14.19 million.
• Medtronic's recent quarterly earnings report revealed an EPS of $1.26, exceeding analyst expectations and showing a 7.7% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $0.71 per share, with a yield of 3.0%, set to be paid on October 17th.

Smith Salley Wealth Management reduced its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 162,769 shares of the medical technology company's stock after selling 17,507 shares during the period. Smith Salley Wealth Management's holdings in Medtronic were worth $14,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its stake 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. Versant Capital Management Inc boosted its position in shares of Medtronic by 163.3% during the first quarter. Versant Capital Management Inc now owns 4,707 shares of the medical technology company's stock valued at $423,000 after buying an additional 2,919 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Medtronic by 2.8% in the 1st quarter. Moody National Bank Trust Division now owns 14,089 shares of the medical technology company's stock worth $1,266,000 after buying an additional 388 shares during the period. Quent Capital LLC lifted its stake in Medtronic by 79.9% in the first quarter. Quent Capital LLC now owns 2,468 shares of the medical technology company's stock worth $222,000 after purchasing an additional 1,096 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Medtronic by 55.4% in the first quarter. AdvisorNet Financial Inc now owns 8,469 shares of the medical technology company's stock worth $761,000 after purchasing an additional 3,018 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

NYSE:MDT opened at $94.34 on Friday. The business's 50-day moving average price is $92.57 and its 200 day moving average price is $88.38. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The firm has a market cap of $121.01 billion, a P/E ratio of 25.99, a PEG ratio of 2.48 and a beta of 0.77.

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

Medtronic Announces Dividend

The firm also recently announced 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. 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 presently 78.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Daiwa Capital Markets upped their price target on Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. UBS Group boosted their price target on Medtronic from $94.00 to $95.00 and gave the company a "neutral" 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 report on Tuesday, August 26th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.27.

Insider Activity

In related news, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company's stock, valued at $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. Company insiders own 0.26% of the company's stock.

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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