Benin Management CORP Sells 300 Shares of Medtronic PLC $MDT

Benin Management CORP lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,776 shares of the medical technology company’s stock after selling 300 shares during the quarter. Benin Management CORP’s holdings in Medtronic were worth $1,375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC bought a new position in Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC bought a new position in Medtronic during the first quarter worth $28,000. Twin Tree Management LP bought a new position in Medtronic during the first quarter worth $29,000. Activest Wealth Management increased its position in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new stake in Medtronic in the 1st quarter valued at $32,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a report on Friday, October 10th. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Sanford C. Bernstein boosted their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. William Blair raised shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Argus boosted their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Down 0.1%

MDT opened at $95.84 on Wednesday. The firm’s 50-day simple moving average is $94.20 and its 200-day simple moving average is $89.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The firm has a market cap of $122.93 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.53 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio is 78.24%.

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

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.