Medtronic PLC $MDT Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its stake in Medtronic PLC (NYSE:MDT) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,157,015 shares of the medical technology company’s stock after selling 61,837 shares during the period. Pzena Investment Management LLC’s holdings in Medtronic were worth $273,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Curbstone Financial Management Corp boosted its stake in Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after buying an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC increased its stake in shares of Medtronic by 7.8% in 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 acquiring an additional 101 shares during the last quarter. Ipsen Advisor Group LLC raised its holdings in shares of Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after acquiring an additional 101 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Medtronic by 0.3% during the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after acquiring an additional 101 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its position in shares of Medtronic by 3.3% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 1.4%

Shares of NYSE:MDT opened at $79.32 on Thursday. The firm has a market capitalization of $101.53 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm’s 50-day moving average is $79.02 and its two-hundred day moving average is $89.23.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MDT. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. UBS Group decreased their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Rothschild & Co Redburn lowered their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $101.00 target price on shares of Medtronic in a research note on Wednesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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).