Medtronic PLC $MDT Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Medtronic PLC by 12.5%, selling 610,064 shares and retaining approximately 4.27 million shares worth about $375.6 million as of the last quarter.
• Medtronic reported better-than-expected quarterly earnings, with $1.26 earnings per share surpassing analysts' estimates of $1.23 and revenue increasing 7.7% year over year to $8.58 billion.
• The company declared a quarterly dividend of $0.71 per share, representing an annualized yield of 3.1%, with a payout ratio of 78.24%.

Amundi lessened its stake in Medtronic PLC (NYSE:MDT - Free Report) by 12.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,273,520 shares of the medical technology company's stock after selling 610,064 shares during the period. Amundi owned 0.33% of Medtronic worth $375,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC boosted its holdings in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares in the last quarter. 1248 Management LLC acquired a new stake in Medtronic in the first quarter worth about $26,000. Wood Tarver Financial Group LLC acquired a new stake in Medtronic in the fourth quarter worth about $27,000. Columbia River Financial Group LLC acquired a new stake in Medtronic in the first quarter worth about $28,000. Finally, Twin Tree Management LP acquired a new stake in Medtronic in the first quarter worth about $29,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

Medtronic stock traded up $0.08 during mid-day trading on Friday, hitting $92.93. The company had a trading volume of 4,856,702 shares, compared to its average volume of 7,029,722. 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 $96.25. The company's fifty day moving average is $90.97 and its 200-day moving average is $88.13. The company has a market capitalization of $119.20 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MDT shares. UBS Group upped their target price on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Truist Financial upped their target price on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research report on Thursday, August 21st. BTIG Research reiterated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Finally, Argus upped their target price on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.14.

Insider Activity at Medtronic

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

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.