Wallace Advisory Group LLC Sells 5,159 Shares of Medtronic PLC $MDT

Key Points

• Wallace Advisory Group LLC sold 5,159 shares of Medtronic PLC, reducing their holdings by 62.9% to a total of 3,045 shares, valued at $274,000.
• Analysts have mixed opinions on Medtronic’s stock, with Goldman Sachs lowering their target price from $82 to $81, while Truist Financial raised it from $96 to $103, maintaining a "hold" rating.
• Medtronic announced a quarterly dividend of $0.71 per share, equating to an annual yield of 3.0%, and has a current dividend payout ratio of 78.24%.

Wallace Advisory Group LLC decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 62.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,045 shares of the medical technology company's stock after selling 5,159 shares during the quarter. Wallace Advisory Group LLC's holdings in Medtronic were worth $274,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Medtronic in the first quarter worth about $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic during the first quarter worth about $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic during the first quarter worth about $29,000. Activest Wealth Management grew its position in shares of 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 purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic during the first quarter worth about $32,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. The Goldman Sachs Group cut their target price on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research report on Wednesday, October 1st. Truist Financial increased their target price on Medtronic from $96.00 to $103.00 and gave the stock a "hold" rating in a research report on Wednesday, October 15th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Morgan Stanley restated an "overweight" rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $102.82.

Medtronic Price Performance

MDT opened at $95.97 on Tuesday. The business has a fifty day moving average of $94.13 and a 200 day moving average of $89.08. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The stock has a market cap of $123.10 billion, a P/E ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the business earned $1.23 EPS. 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 anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic's dividend payout ratio is currently 78.24%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents 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 corporate insiders.

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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