Westfield Capital Management Co. LP Lowers Stake in Medtronic PLC $MDT

Westfield Capital Management Co. LP reduced its position in Medtronic PLC (NYSE:MDT) by 16.1% in the third quarter, HoldingsChannel.com reports. The firm owned 61,922 shares of the medical technology company’s stock after selling 11,893 shares during the period. Westfield Capital Management Co. LP’s holdings in Medtronic were worth $5,897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corundum Trust Company INC bought a new position in Medtronic in the 3rd quarter worth $27,000. Valley Wealth Managers Inc. purchased a new position in shares of Medtronic in the third quarter valued at about $29,000. Delos Wealth Advisors LLC purchased a new position in shares of Medtronic in the second quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Medtronic in the third quarter worth about $33,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Medtronic during the third quarter worth about $34,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $96.97 on Friday. The firm has a fifty day simple moving average of $98.95 and a two-hundred day simple moving average of $96.83. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The company has a quick ratio of 1.80, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $124.50 billion, a P/E ratio of 27.01, a PEG ratio of 2.43 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were issued a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s payout ratio is 79.11%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the transaction, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDT. Royal Bank Of Canada boosted their price target on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Wells Fargo & Company began coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective on the stock. Jefferies Financial Group restated a “hold” rating and set a $110.00 target price on shares of Medtronic in a research report on Wednesday, November 19th. Morgan Stanley raised their target price on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Finally, Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $110.84.

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).