Medtronic PLC $MDT Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 11.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,829 shares of the medical technology company’s stock after selling 5,656 shares during the period. Sequoia Financial Advisors LLC’s holdings in Medtronic were worth $3,429,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Medtronic by 7,655.7% during the second quarter. California State Teachers Retirement System now owns 158,124,578 shares of the medical technology company’s stock valued at $12,370,086,000 after purchasing an additional 156,085,748 shares in the last quarter. BlackRock Inc. lifted its holdings in Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares during the period. State Street Corp grew its position in Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after buying an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. grew its position in Medtronic by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after buying an additional 1,419,730 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in 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 valued at $3,321,101,000 after buying an additional 3,880,174 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $90.97 on Friday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a market cap of $116.36 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.13 and a beta of 0.56. The company’s 50-day moving average price is $87.91 and its two-hundred day moving average price is $85.18.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.96 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 70.94%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Sanford C. Bernstein lowered their price objective on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Leerink Partners dropped their target price on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Mizuho set a $115.00 target price on Medtronic in a report on Wednesday, September 2nd. Nineteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $103.92.

About Medtronic

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.