Deutsche Bank AG Lowers Stock Holdings in Medtronic PLC $MDT

Deutsche Bank AG reduced its holdings in Medtronic PLC (NYSE:MDT) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,449,877 shares of the medical technology company’s stock after selling 552,537 shares during the quarter. Deutsche Bank AG’s holdings in Medtronic were worth $1,443,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after acquiring an additional 1,888,381 shares during the last quarter. State Street Corp boosted its position in shares of Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after acquiring an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Medtronic by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after acquiring an additional 1,419,730 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after purchasing an additional 231,919 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MDT. TD Cowen cut their price target on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group lowered their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Wells Fargo & Company dropped their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and issued a $91.00 target price on shares of Medtronic in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.83.

Medtronic Trading Down 1.8%

Shares of MDT stock opened at $92.45 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm’s 50 day moving average price is $84.12 and its two-hundred day moving average price is $86.01. The stock has a market cap of $118.33 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

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).