Medtronic PLC $MDT Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 94.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 821 shares of the medical technology company’s stock after selling 14,290 shares during the quarter. Global Trust Asset Management LLC’s holdings in Medtronic were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Monetary Solutions Ltd bought a new stake in shares of Medtronic in the fourth quarter worth $27,000. Lodestone Wealth Management LLC bought a new position in Medtronic during the 4th quarter valued at $27,000. Anfield Capital Management LLC grew its holdings in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic during the 4th quarter worth $29,000. Finally, GoalVest Advisory LLC bought a new stake in shares of Medtronic in the 4th quarter worth about $29,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of NYSE MDT opened at $79.32 on Thursday. 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 firm’s 50-day moving average price is $79.02 and its two-hundred day moving average price is $89.23. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a market capitalization of $101.53 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.10 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS 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 analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MDT shares. Barclays upped their target price on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Mizuho decreased their target price on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Finally, Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

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).