Medtronic (NYSE:MDT) EVP Sells $336,963.16 in Stock

Medtronic PLC (NYSE:MDT) EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this link.

Medtronic Stock Up 0.0%

NYSE MDT opened at $80.28 on Friday. The stock’s 50 day moving average is $80.97 and its 200 day moving average is $91.46. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The stock has a market cap of $103.07 billion, a PE ratio of 21.52, a P/E/G ratio of 1.95 and a beta of 0.58.

Medtronic (NYSE:MDT) last posted its quarterly 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. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the previous year, the firm earned $1.62 EPS. The firm’s 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. Research analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 76.14%.

Analyst Ratings Changes

A number of research firms recently commented on MDT. Wells Fargo & Company lowered their price target on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Citigroup lowered their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, June 3rd. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Daiwa Securities Group reduced their price objective on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $99.00.

Institutional Trading of Medtronic

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares during the last quarter. State Street Corp increased its position in shares of Medtronic by 2.0% during the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after purchasing an additional 1,419,730 shares during the last quarter. Capital Research Global Investors increased its position in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after purchasing an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Medtronic by 0.8% during the 4th 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 last quarter. Institutional investors own 82.06% 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).