iA Global Asset Management Inc. Sells 52,920 Shares of Medtronic PLC $MDT

iA Global Asset Management Inc. lessened its holdings in Medtronic PLC (NYSE:MDT) by 74.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,702 shares of the medical technology company’s stock after selling 52,920 shares during the period. iA Global Asset Management Inc.’s holdings in Medtronic were worth $1,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC increased its holdings in Medtronic by 4.0% in the 2nd quarter. Castlekeep Investment Advisors LLC now owns 14,237 shares of the medical technology company’s stock worth $1,241,000 after acquiring an additional 549 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Medtronic by 1.9% in the 2nd quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock worth $532,000 after acquiring an additional 114 shares in the last quarter. TIAA Trust National Association increased its holdings in Medtronic by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 12,928 shares of the medical technology company’s stock worth $1,127,000 after acquiring an additional 158 shares in the last quarter. SS&H Financial Advisors Inc. raised its position in shares of Medtronic by 14.7% during the second quarter. SS&H Financial Advisors Inc. now owns 5,456 shares of the medical technology company’s stock valued at $476,000 after buying an additional 700 shares during the last quarter. Finally, Welch & Forbes LLC raised its position in shares of Medtronic by 1.2% during the second quarter. Welch & Forbes LLC now owns 46,760 shares of the medical technology company’s stock valued at $4,076,000 after buying an additional 550 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research analyst reports. Mizuho raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Stifel Nicolaus lifted their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. The Goldman Sachs Group decreased their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research report on Wednesday, October 1st. Finally, Evercore ISI increased their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.6%

Shares of NYSE:MDT opened at $90.19 on Tuesday. The company has a market cap of $115.68 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.42 and a beta of 0.78. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $94.31 and a 200 day moving average price of $89.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio is 78.24%.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.