Vista Investment Partners LLC Cuts Holdings in Medtronic PLC $MDT

Vista Investment Partners LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 38.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,623 shares of the medical technology company’s stock after selling 5,923 shares during the quarter. Vista Investment Partners LLC’s holdings in Medtronic were worth $753,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Medtronic in the fourth quarter worth $1,653,485,000. WCM Investment Management LLC purchased a new stake in shares of Medtronic during the 1st quarter worth $965,922,000. Capital Research Global Investors grew its stake in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares during the period. Wellington Management Group LLP grew its stake in shares of Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after purchasing an additional 2,658,981 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MDT shares. Robert W. Baird lowered their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Rothschild & Co Redburn lowered their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. UBS Group raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a report on Tuesday, July 28th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Sanford C. Bernstein dropped their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Medtronic Stock Performance

Medtronic stock opened at $87.14 on Monday. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a market capitalization of $111.54 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.34 and a beta of 0.55. The stock has a fifty day moving average of $81.94 and a two-hundred day moving average of $86.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13.

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 analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the company earned $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. On average, analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic 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).