Prospera Financial Services Inc Sells 6,895 Shares of Medtronic PLC $MDT

Prospera Financial Services Inc trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,364 shares of the medical technology company’s stock after selling 6,895 shares during the quarter. Prospera Financial Services Inc’s holdings in Medtronic were worth $3,560,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverbend Wealth Management LLC increased its holdings in shares of Medtronic by 3.2% during the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock worth $332,000 after buying an additional 107 shares in the last quarter. Wynn Capital LLC boosted its holdings in shares of Medtronic by 2.4% during the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after acquiring an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. grew its position in Medtronic by 0.4% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after acquiring an additional 110 shares during the last quarter. Saxony Capital Management LLC increased its holdings in Medtronic by 3.8% in the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in Medtronic by 3.2% in the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Needham & Company LLC raised Medtronic from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday. Wells Fargo & Company began coverage on shares of Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective for the company. UBS Group reiterated a “neutral” rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 4th. Leerink Partners set a $120.00 target price on shares of Medtronic and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Finally, Daiwa Securities Group raised their price target on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Sixteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $111.21.

Medtronic Trading Down 0.3%

NYSE:MDT opened at $101.07 on Thursday. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The firm’s fifty day moving average is $99.34 and its 200-day moving average is $96.32. The firm has a market cap of $129.58 billion, a P/E ratio of 27.24, a P/E/G ratio of 2.67 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. Medtronic’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is currently 76.55%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).