Swiss National Bank Sells 178,400 Shares of Medtronic PLC $MDT

Swiss National Bank decreased its position in Medtronic PLC (NYSE:MDT) by 4.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,514,966 shares of the medical technology company’s stock after selling 178,400 shares during the period. Swiss National Bank’s holdings in Medtronic were worth $337,648,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Artisan Partners Limited Partnership increased its position in shares of Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after purchasing an additional 31,314 shares during the last quarter. CSM Advisors LLC increased its position in shares of Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after purchasing an additional 33,167 shares during the last quarter. SageView Advisory Group LLC increased its position in shares of Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after purchasing an additional 15,062 shares during the last quarter. Madison Asset Management LLC increased its position in shares of Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of Medtronic by 17.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock worth $8,316,000 after purchasing an additional 13,177 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.0%

MDT opened at $80.28 on Friday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The stock’s fifty day simple moving average is $80.97 and its 200 day simple moving average is $91.46. 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 stock has a market cap of $103.07 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 76.14%.

Insider Buying and Selling

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

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. Sanford C. Bernstein lowered their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Evercore set a $106.00 price target on Medtronic and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Mizuho lowered their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Finally, Needham & Company LLC lowered their price target on Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.00.

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).