First Trust Advisors LP Sells 103,019 Shares of Medtronic PLC $MDT

First Trust Advisors LP decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,814 shares of the medical technology company’s stock after selling 103,019 shares during the period. First Trust Advisors LP owned 0.07% of Medtronic worth $73,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. 1248 Management LLC acquired a new stake in shares of Medtronic during the 1st quarter worth approximately $26,000. Twin Tree Management LP acquired a new stake in Medtronic in the first quarter worth $29,000. Activest Wealth Management raised its holdings 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 valued at $30,000 after purchasing an additional 322 shares during the period. GFG Capital LLC acquired a new position in shares of Medtronic during the second quarter valued at about $36,000. Finally, True Wealth Design LLC raised its holdings in shares of Medtronic by 49.8% during the second quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock valued at $37,000 after purchasing an additional 140 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MDT shares. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Stifel Nicolaus lifted their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Citigroup raised their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.44.

Medtronic Stock Down 0.6%

Shares of NYSE:MDT opened at $101.39 on Friday. The company has a market capitalization of $129.99 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.67 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The business has a fifty day moving average price of $96.79 and a two-hundred day moving average price of $92.22. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $106.33.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be issued 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 is Friday, December 26th. Medtronic’s payout ratio is 76.55%.

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.