SVB Wealth LLC Sells 46,010 Shares of Medtronic PLC $MDT

SVB Wealth LLC reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 37.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,173 shares of the medical technology company’s stock after selling 46,010 shares during the quarter. SVB Wealth LLC’s holdings in Medtronic were worth $6,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC lifted its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the first quarter valued at $28,000. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic during the fourth quarter valued at $27,000. Hughes Financial Services LLC bought a new position in shares of Medtronic during the first quarter valued at $32,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic during the fourth quarter valued at $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 1.7%

NYSE MDT opened at $92.6210 on Friday. The stock’s 50-day moving average price is $89.73 and its 200-day moving average price is $88.03. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The company has a market capitalization of $118.72 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MDT shares. Citigroup upped their price target on Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird increased their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday. Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.15.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.