J. Safra Sarasin Holding AG Cuts Stake in Medtronic PLC $MDT

J. Safra Sarasin Holding AG lessened its holdings in Medtronic PLC (NYSE:MDT) by 58.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 16,892 shares of the medical technology company’s stock after selling 23,557 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Medtronic were worth $1,459,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Monetary Solutions Ltd purchased a new position in Medtronic in the fourth quarter valued at $27,000. Lodestone Wealth Management LLC acquired a new position in Medtronic during the 4th quarter worth $27,000. Anfield Capital Management LLC increased its holdings in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Board of the Pension Protection Fund purchased a new stake in Medtronic during the 4th quarter worth about $29,000. Finally, GoalVest Advisory LLC acquired a new stake in Medtronic in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BTIG Research reiterated a “buy” rating and issued a $91.00 price objective on shares of Medtronic in a research note on Monday. Evercore set a $105.00 target price on shares of Medtronic in a report on Monday, July 6th. Wells Fargo & Company reduced their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Truist Financial decreased their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $88.00 price target on shares of Medtronic in a report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.21.

Medtronic Stock Down 5.1%

Shares of NYSE:MDT opened at $79.30 on Wednesday. The company has a market capitalization of $101.51 billion, a PE ratio of 21.26, a P/E/G ratio of 2.24 and a beta of 0.56. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The firm has a 50 day simple moving average of $79.19 and a 200-day simple moving average of $88.24.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the firm posted $1.62 EPS. The company’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

Insider Activity at Medtronic

In other 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 value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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).