Meyer Handelman Co. Lowers Stake in Medtronic PLC $MDT

Meyer Handelman Co. cut its position in shares of Medtronic PLC (NYSE:MDT) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 67,794 shares of the medical technology company’s stock after selling 8,172 shares during the period. Meyer Handelman Co.’s holdings in Medtronic were worth $6,512,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Delos Wealth Advisors LLC purchased a new stake in shares of Medtronic during the 2nd quarter worth about $27,000. Corundum Trust Company INC acquired a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Valley Wealth Managers Inc. purchased a new position in Medtronic in the third quarter valued at approximately $29,000. Board of the Pension Protection Fund purchased a new position in Medtronic in the fourth quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDT has been the subject of several research reports. Truist Financial decreased their price objective on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 price target on shares of Medtronic in a research report on Tuesday, March 10th. Wells Fargo & Company started coverage on Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price target for the company. Finally, Daiwa Securities Group cut their price objective on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.74.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Medtronic Stock Up 1.0%

Shares of NYSE:MDT opened at $86.57 on Wednesday. The company has a market capitalization of $111.15 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 2.21 and a beta of 0.71. The company has a 50 day moving average of $95.34 and a two-hundred day moving average of $96.41. 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 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be issued a $0.71 dividend. The ex-dividend date is Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.3%. Medtronic’s payout ratio is currently 79.11%.

Medtronic 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).