Vantage Wealth Has $18.99 Million Position in Medtronic PLC $MDT

Key Points

• Vantage Wealth reduced its stake in Medtronic PLC by 2.7%, now holding 217,805 shares valued at approximately $18.99 million, constituting 4.3% of its investment portfolio.
• Medtronic's latest earnings report showed an EPS of $1.26, slightly exceeding analysts' expectations of $1.23, with revenue of $8.58 billion for the quarter, a 7.7% increase year-over-year.
• The company announced a quarterly dividend of $0.71 per share, payable on October 17th, equating to an annualized yield of 3.0%.

Vantage Wealth lessened its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,805 shares of the medical technology company's stock after selling 6,135 shares during the quarter. Medtronic comprises 4.3% of Vantage Wealth's investment portfolio, making the stock its 13th biggest holding. Vantage Wealth's holdings in Medtronic were worth $18,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Red Spruce Capital LLC lifted its position in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after buying an additional 118 shares in the last quarter. Certior Financial Group LLC lifted its position in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after buying an additional 122 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after buying an additional 124 shares in the last quarter. Cidel Asset Management Inc. lifted its position in shares of Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after buying an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC lifted its position in shares of Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after buying an additional 127 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 0.7%

Shares of NYSE:MDT opened at $94.91 on Friday. The company has a market cap of $121.74 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.52 and a beta of 0.77. The firm has a fifty day moving average price of $92.05 and a two-hundred day moving average price of $88.37. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

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 analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter last year, the company earned $1.23 EPS. The firm'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. Analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio is 78.24%.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were 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 of the company's stock, valued at $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 is available at this link. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Mizuho raised their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Finally, Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. One investment 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.27.

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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