Medtronic PLC $MDT Shares Sold by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA lessened its position in Medtronic PLC (NYSE:MDT) by 83.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,990 shares of the medical technology company’s stock after selling 30,237 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Medtronic were worth $473,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New England Capital Financial Advisors LLC boosted its stake in Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after purchasing an additional 101 shares during the last quarter. Ipsen Advisor Group LLC grew its holdings in shares of Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after buying an additional 101 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after buying an additional 101 shares during the last quarter. Rossby Financial LCC raised its position in shares of Medtronic by 5.1% in the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock valued at $211,000 after buying an additional 107 shares during the last quarter. Finally, Wealthspire Retirement LLC lifted its stake in shares of Medtronic by 5.0% in the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock worth $232,000 after buying an additional 114 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the 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 sale, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Stifel Nicolaus set a $80.00 target price on Medtronic in a report on Wednesday, June 3rd. Sanford C. Bernstein cut their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Jefferies Financial Group reiterated a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. The Goldman Sachs Group dropped their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Finally, Rothschild & Co Redburn dropped their target price on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a report on Friday, June 5th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Medtronic Stock Down 0.2%

Shares of NYSE MDT opened at $91.10 on Monday. 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 business’s 50 day moving average is $83.20 and its two-hundred day moving average is $86.26. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The firm has a market cap of $116.62 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT) last released 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 during 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%.Medtronic’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 EPS. 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 year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a dividend of $0.72 per share. 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 annualized dividend and a yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

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).