Vista Investment Partners LLC Reduces Stock Holdings in Medtronic PLC $MDT

Vista Investment Partners LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 38.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,623 shares of the medical technology company’s stock after selling 5,923 shares during the quarter. Vista Investment Partners LLC’s holdings in Medtronic were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of MDT. Anfield Capital Management LLC lifted its holdings in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Monetary Solutions Ltd purchased a new position in Medtronic during the 4th quarter worth approximately $27,000. Acumen Wealth Advisors LLC purchased a new position in Medtronic during the 4th quarter worth approximately $29,000. Imprint Wealth LLC purchased a new position in Medtronic during the 3rd quarter worth approximately $31,000. Finally, Basepoint Wealth LLC acquired a new position in Medtronic during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MDT shares. Sanford C. Bernstein reduced their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Truist Financial cut their target price on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Robert W. Baird reduced their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, Mizuho decreased their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $98.83.

Medtronic Stock Down 0.0%

MDT opened at $87.14 on Monday. The business has a 50 day moving average price of $81.94 and a two-hundred day moving average price of $86.61. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $111.54 billion, a PE ratio of 23.36, a P/E/G ratio of 2.34 and a beta of 0.55. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33.

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

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a $0.72 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. Medtronic’s payout ratio is 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s 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 of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

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).