Medtronic PLC $MDT Shares Sold by RFG Advisory LLC

RFG Advisory LLC decreased its holdings in Medtronic PLC (NYSE:MDT) by 39.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,408 shares of the medical technology company’s stock after selling 10,178 shares during the quarter. RFG Advisory LLC’s holdings in Medtronic were worth $1,205,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Monetary Solutions Ltd acquired a new position in Medtronic during the 4th quarter worth $27,000. Acumen Wealth Advisors LLC acquired a new stake in Medtronic in the 4th quarter valued at about $29,000. IAG Wealth Partners LLC acquired a new stake in Medtronic in the 2nd quarter valued at about $30,000. Imprint Wealth LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at about $31,000. Finally, Basepoint Wealth LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.7%

MDT opened at $90.97 on Friday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The stock has a market capitalization of $116.36 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. The business’s 50-day simple moving average is $87.91 and its 200-day simple moving average is $85.18.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Analysts anticipate that Medtronic PLC will post 5.96 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDT. BTIG Research upped their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Bank of America lifted their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Robert W. Baird boosted their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Nineteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.