Merit Financial Group LLC Raises Stock Holdings in Medtronic PLC $MDT

Merit Financial Group LLC boosted its holdings in Medtronic PLC (NYSE:MDT) by 37.5% during the 2nd quarter, Holdings Channel reports. The firm owned 57,035 shares of the medical technology company’s stock after acquiring an additional 15,561 shares during the period. Merit Financial Group LLC’s holdings in Medtronic were worth $4,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. 1248 Management LLC purchased a new position in shares of Medtronic in the 1st quarter worth about $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the first quarter valued at about $28,000. Twin Tree Management LP bought a new position in shares of Medtronic during the 1st quarter valued at approximately $29,000. Activest Wealth Management increased its stake in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic during the 1st quarter worth approximately $32,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MDT shares. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group cut their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Robert W. Baird lifted their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Finally, Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.94.

Medtronic Stock Up 0.8%

Shares of NYSE MDT opened at $98.46 on Tuesday. 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 company has a market cap of $126.29 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.57 and a beta of 0.78. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $98.66. The business has a 50-day simple moving average of $93.07 and a two-hundred day simple moving average of $88.52.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the 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 sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

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.