Medtronic PLC $MDT Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC decreased its stake in shares of Medtronic PLC (NYSE:MDT) by 29.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 425,833 shares of the medical technology company’s stock after selling 177,132 shares during the quarter. Calamos Advisors LLC’s holdings in Medtronic were worth $33,313,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Medtronic in the 2nd quarter valued at $299,000. Main Street Financial Solutions LLC lifted its position in shares of Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after purchasing an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC lifted its position in shares of Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after purchasing an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $91.10 on Friday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The stock has a market cap of $116.62 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm has a fifty day moving average price of $83.20 and a 200 day moving average price of $86.36.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. Medtronic’s payout ratio is currently 77.21%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MDT shares. Mizuho dropped their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price target on shares of Medtronic in a report on Thursday, June 4th. Sanford C. Bernstein dropped their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. UBS Group upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $100.00 in a report on Tuesday, July 28th. Finally, Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research report on Monday, August 10th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

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).