Aaron Wealth Advisors LLC Sells 14,885 Shares of Medtronic PLC $MDT

Aaron Wealth Advisors LLC lowered its stake in Medtronic PLC (NYSE:MDT) by 51.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,181 shares of the medical technology company’s stock after selling 14,885 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Medtronic were worth $1,229,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new position in shares of Medtronic during the first quarter valued at about $5,658,000. Silver Oak Securities Incorporated grew its holdings in Medtronic by 8.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 3,640 shares of the medical technology company’s stock valued at $315,000 after buying an additional 296 shares in the last quarter. Fiduciary Alliance LLC grew its holdings in Medtronic by 3.0% during the 1st quarter. Fiduciary Alliance LLC now owns 7,638 shares of the medical technology company’s stock valued at $665,000 after buying an additional 223 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in Medtronic by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 114,648 shares of the medical technology company’s stock worth $9,934,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Norway Savings Bank bought a new stake in Medtronic in the 1st quarter worth approximately $369,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.5%

Medtronic stock opened at $80.94 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The firm has a market cap of $103.60 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.16 and a beta of 0.58. The business has a fifty day moving average of $79.39 and a two-hundred day moving average of $89.74. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s payout ratio is presently 76.14%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent research reports. TD Cowen reissued a “buy” rating and issued a $119.00 target price on shares of Medtronic in a report on Thursday, June 4th. Sanford C. Bernstein decreased their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $101.00 price objective on shares of Medtronic in a research report on Wednesday, June 17th. Rothschild & Co Redburn dropped their price objective on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Finally, Daiwa Securities Group reduced their target price on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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).