Medtronic PLC $MDT Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its stake in Medtronic PLC (NYSE:MDT) by 20.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 33,494 shares of the medical technology company’s stock after selling 8,470 shares during the period. SVB Wealth LLC’s holdings in Medtronic were worth $2,902,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Artisan Partners Limited Partnership lifted its holdings in Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after acquiring an additional 31,314 shares during the last quarter. CSM Advisors LLC grew its holdings in shares of Medtronic by 13.2% during the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares during the last quarter. SageView Advisory Group LLC raised its position in shares of Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after purchasing an additional 15,062 shares during the period. Madison Asset Management LLC raised its position in shares of Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares during the period. Finally, Ticino Wealth bought a new stake in shares of Medtronic in the 4th quarter worth approximately $2,049,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft dropped their target price on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Sanford C. Bernstein reduced their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a report on Wednesday, June 3rd. Finally, Daiwa Securities Group lowered their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Stock Performance

Shares of MDT stock opened at $79.15 on Tuesday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market capitalization of $101.62 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The business has a 50 day simple moving average of $79.96 and a 200 day simple moving average of $90.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio is 76.14%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company 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).