Groupe la Francaise Decreases Stock Holdings in Medtronic PLC $MDT

Groupe la Francaise lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 99.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345 shares of the medical technology company’s stock after selling 110,171 shares during the quarter. Groupe la Francaise’s holdings in Medtronic were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arete Wealth Advisors LLC lifted its position in shares of Medtronic by 8.3% during the first quarter. Arete Wealth Advisors LLC now owns 25,047 shares of the medical technology company’s stock valued at $2,169,000 after buying an additional 1,914 shares during the last quarter. Western Wealth Management LLC grew its position in shares of Medtronic by 271.2% in the 1st quarter. Western Wealth Management LLC now owns 20,382 shares of the medical technology company’s stock worth $1,766,000 after buying an additional 14,891 shares during the last quarter. McIlrath & Eck LLC grew its position in shares of Medtronic by 112.6% in the 1st quarter. McIlrath & Eck LLC now owns 980 shares of the medical technology company’s stock worth $85,000 after buying an additional 519 shares during the last quarter. Paragon Private Wealth Management LLC raised its stake in shares of Medtronic by 9.9% during the 1st quarter. Paragon Private Wealth Management LLC now owns 11,454 shares of the medical technology company’s stock worth $992,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Medtronic by 5.4% during the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after acquiring an additional 1,343,220 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MDT. UBS Group raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $100.00 in a research report on Tuesday. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Mizuho dropped their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. reduced their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein decreased their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Trading Down 0.1%

NYSE MDT opened at $85.64 on Friday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The company has a fifty day simple moving average of $80.94 and a two-hundred day simple moving average of $87.07. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a market cap of $109.62 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.29 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. 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 year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents 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 accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Company Profile

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).