Medtronic PLC $MDT Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 32.4% in the 4th quarter, Holdings Channel reports. The fund owned 84,500 shares of the medical technology company’s stock after selling 40,456 shares during the quarter. Polen Capital Management LLC’s holdings in Medtronic were worth $8,117,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Lodestone Wealth Management LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic during the fourth quarter worth $29,000. GoalVest Advisory LLC acquired a new position in Medtronic during the fourth quarter worth $29,000. Finally, Imprint Wealth LLC purchased a new stake in Medtronic in the 3rd quarter valued at $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on MDT shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. Robert W. Baird cut their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Rothschild & Co Redburn reduced their target price on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Daiwa Securities Group dropped their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Medtronic Price Performance

MDT stock opened at $80.28 on Friday. The business’s fifty day moving average price is $80.97 and its 200 day moving average price is $91.46. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $103.07 billion, a PE ratio of 21.52, a P/E/G ratio of 1.95 and a beta of 0.58.

Medtronic (NYSE:MDT) last announced its 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 analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is 76.14%.

Medtronic Company 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).