Medtronic PLC $MDT Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its stake in Medtronic PLC (NYSE:MDT) by 35.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,953 shares of the medical technology company’s stock after selling 12,606 shares during the quarter. NewEdge Wealth LLC’s holdings in Medtronic were worth $1,989,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Curbstone Financial Management Corp raised its holdings in Medtronic by 1.8% in the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after acquiring an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC grew its holdings in Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after acquiring an additional 101 shares in the last quarter. Ipsen Advisor Group LLC increased its position in shares of Medtronic by 1.7% in the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after purchasing an additional 101 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Medtronic by 0.3% in the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after purchasing an additional 101 shares in the last quarter. Finally, Rossby Financial LCC raised its holdings in shares of Medtronic by 5.1% in the 4th quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock valued at $211,000 after purchasing an additional 107 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE MDT opened at $83.12 on Friday. The company has a fifty day moving average of $80.15 and a two-hundred day moving average of $87.52. The company has a market capitalization of $106.40 billion, a PE ratio of 22.28, a P/E/G ratio of 2.23 and a beta of 0.56. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a dividend of $0.72 per share. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MDT shares. UBS Group lowered their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Sanford C. Bernstein lowered their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Robert W. Baird dropped their price objective on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Finally, Piper Sandler restated a “neutral” rating and set a $85.00 target price on shares of Medtronic in a research note on Tuesday, June 16th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.21.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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).