Hedeker Wealth LLC Sells 17,444 Shares of Medtronic PLC $MDT

Hedeker Wealth LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 36.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,282 shares of the medical technology company’s stock after selling 17,444 shares during the period. Hedeker Wealth LLC’s holdings in Medtronic were worth $2,369,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Ipsen Advisor Group LLC grew its holdings in Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after acquiring an additional 101 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after acquiring an additional 101 shares during the last quarter. Rossby Financial LCC lifted its position in shares of Medtronic by 5.1% during the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock worth $211,000 after purchasing an additional 107 shares in the last quarter. Wealthspire Retirement LLC grew its stake in shares of Medtronic by 5.0% during the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock valued at $232,000 after purchasing an additional 114 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Medtronic by 2.0% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,043 shares of the medical technology company’s stock valued at $622,000 after purchasing an additional 117 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MDT shares. Leerink Partners dropped their price objective on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. The Goldman Sachs Group decreased their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Weiss Ratings raised Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Needham & Company LLC boosted their target price on Medtronic from $101.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. Nineteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Medtronic Trading Down 1.9%

MDT opened at $92.41 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The company has a market cap of $118.20 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56. The firm has a 50 day simple moving average of $87.33 and a 200 day simple moving average of $85.21. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. During the same period last year, the firm earned $1.26 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.96 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

About Medtronic

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.