Lbp Am Sa Cuts Position in Medtronic PLC $MDT

Lbp Am Sa trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 69.6% during the second quarter, Holdings Channel reports. The institutional investor owned 52,626 shares of the medical technology company’s stock after selling 120,640 shares during the quarter. Lbp Am Sa’s holdings in Medtronic were worth $4,587,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Columbia Asset Management increased its stake in shares of Medtronic by 7.4% during the second quarter. Columbia Asset Management now owns 60,221 shares of the medical technology company’s stock worth $5,249,000 after buying an additional 4,130 shares during the period. Cooper Financial Group boosted its holdings in Medtronic by 2.1% in the second quarter. Cooper Financial Group now owns 9,765 shares of the medical technology company’s stock valued at $851,000 after purchasing an additional 203 shares in the last quarter. PGGM Investments boosted its holdings in Medtronic by 8.5% in the second quarter. PGGM Investments now owns 1,248,594 shares of the medical technology company’s stock valued at $108,840,000 after purchasing an additional 98,262 shares in the last quarter. Truist Financial Corp boosted its holdings in Medtronic by 5.5% in the second quarter. Truist Financial Corp now owns 2,241,476 shares of the medical technology company’s stock valued at $195,389,000 after purchasing an additional 116,469 shares in the last quarter. Finally, Chicago Capital LLC boosted its holdings in Medtronic by 45.2% in the second quarter. Chicago Capital LLC now owns 16,873 shares of the medical technology company’s stock valued at $1,471,000 after purchasing an additional 5,249 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

MDT stock opened at $94.85 on Thursday. The company has a market capitalization of $121.66 billion, a P/E ratio of 26.13, a PEG ratio of 2.51 and a beta of 0.78. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The business has a 50 day simple moving average of $92.78 and a 200-day simple moving average of $88.45. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Insider Buying and Selling at Medtronic

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Robert W. Baird upped their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Daiwa Capital Markets upped their price target on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

Medtronic Company Profile

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.