First Eagle Investment Management LLC Sells 83,431 Shares of Medtronic PLC $MDT

First Eagle Investment Management LLC lessened its position in shares of Medtronic PLC (NYSE:MDT) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,732,218 shares of the medical technology company’s stock after selling 83,431 shares during the quarter. Medtronic comprises 1.7% of First Eagle Investment Management LLC’s holdings, making the stock its 19th biggest position. First Eagle Investment Management LLC’s holdings in Medtronic were worth $848,357,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MDT. Vanguard Group Inc. increased its position in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after purchasing an additional 810,854 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after buying an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp increased its position in Medtronic by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after buying an additional 595,549 shares in the last quarter. Deutsche Bank AG raised its stake in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after buying an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after buying an additional 1,535,308 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of NYSE MDT opened at $90.10 on Friday. The company has a 50 day simple moving average of $94.21 and a two-hundred day simple moving average of $89.88. The stock has a market cap of $115.57 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.42 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDT shares. Argus boosted their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Citigroup boosted their target price on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. William Blair raised shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Sanford C. Bernstein reiterated an “outperform” rating and set a $98.00 price objective on shares of Medtronic in a research note on Friday, October 31st. Finally, Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Profile

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.