Ameritas Advisory Services LLC Has $1.45 Million Holdings in Medtronic PLC $MDT

Key Points

• Ameritas Advisory Services LLC reduced its holdings in Medtronic PLC by 29.9%, now owning 16,624 shares worth approximately $1.45 million after selling 7,092 shares in the second quarter.
• Medtronic reported a quarterly EPS of $1.26, exceeding estimates, with revenue of $8.58 billion reflecting a 7.7% increase year-over-year.
• The company announced a quarterly dividend of $0.71 per share, with the ex-dividend date set for September 26th, representing an annualized yield of 2.9%.

Ameritas Advisory Services LLC reduced its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 29.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,624 shares of the medical technology company's stock after selling 7,092 shares during the period. Ameritas Advisory Services LLC's holdings in Medtronic were worth $1,449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MDT. Boston Partners boosted its position in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock worth $903,915,000 after purchasing an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new position in Medtronic during the first quarter worth $260,649,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock worth $216,753,000 after buying an additional 1,660,357 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE MDT opened at $97.63 on Friday. The firm has a 50-day moving average of $92.94 and a 200-day moving average of $88.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The stock has a market cap of $125.23 billion, a PE ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.78. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $97.94.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director owned 5,000 shares of the company's stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Evercore ISI increased their price target on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group cut their price objective on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a report on Wednesday. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Finally, Citigroup increased their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.94.

About Medtronic

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.

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