Grandfield & Dodd LLC Sells 7,235 Shares of Medtronic PLC $MDT

Grandfield & Dodd LLC cut its holdings in Medtronic PLC (NYSE:MDT) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,225 shares of the medical technology company’s stock after selling 7,235 shares during the quarter. Grandfield & Dodd LLC’s holdings in Medtronic were worth $5,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Madison Asset Management LLC lifted its stake in shares of Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after buying an additional 25,527 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after acquiring an additional 40,196 shares in the last quarter. Gradient Investments LLC increased its position in shares of Medtronic by 3.9% during the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after acquiring an additional 18,509 shares in the last quarter. Czech National Bank raised its holdings in shares of Medtronic by 4.7% in the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after acquiring an additional 16,292 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after acquiring an additional 89,111 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Medtronic stock opened at $93.44 on Friday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company’s 50 day moving average price is $84.39 and its two-hundred day moving average price is $86.06. The stock has a market cap of $119.60 billion, a P/E ratio of 25.05, a P/E/G ratio of 2.47 and a beta of 0.55. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MDT shares. Robert W. Baird cut their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on Medtronic in a research note on Wednesday, June 3rd. Sanford C. Bernstein cut their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. The Goldman Sachs Group decreased their price target on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Medtronic 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).