Venturi Wealth Management LLC Sells 4,008 Shares of Medtronic PLC $MDT

Key Points

• Venturi Wealth Management LLC sold 4,008 shares of Medtronic PLC, reducing its stake by 57.4%, and now owns a total of 2,974 shares valued at approximately $259,000.
• Medtronic recently announced a quarterly dividend of $0.71 per share, which will be paid on October 17th, representing an annualized yield of 3.0%.
• Medtronic's stock performance shows a PE ratio of 26.31 and a market capitalization of $122.52 billion, with a recent earnings report exceeding expectations at $1.26 EPS.

Venturi Wealth Management LLC trimmed its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 57.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,974 shares of the medical technology company's stock after selling 4,008 shares during the period. Venturi Wealth Management LLC's holdings in Medtronic were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. GAMMA Investing LLC lifted its position in shares of Medtronic by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 15,882 shares of the medical technology company's stock worth $1,427,000 after buying an additional 4,626 shares in the last quarter. CX Institutional increased its stake in shares of Medtronic by 8.0% during the 1st quarter. CX Institutional now owns 7,702 shares of the medical technology company's stock worth $692,000 after purchasing an additional 568 shares during the last quarter. Simon Quick Advisors LLC grew its stake in Medtronic by 51.2% in the 1st quarter. Simon Quick Advisors LLC now owns 7,801 shares of the medical technology company's stock valued at $701,000 after buying an additional 2,641 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Medtronic by 3.8% in the 1st quarter. Fifth Third Bancorp now owns 198,673 shares of the medical technology company's stock valued at $17,853,000 after buying an additional 7,205 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction 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 approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company's stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $95.52 on Friday. The firm has a fifty day moving average price of $93.56 and a 200-day moving average price of $88.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The stock has a market cap of $122.52 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Robert W. Baird boosted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Leerink Partners started coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, The Goldman Sachs Group dropped their target price on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating on the stock in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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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