Anchor Investment Management LLC Sells 16,418 Shares of Medtronic PLC $MDT

Key Points

• Anchor Investment Management reduced its Medtronic stake by 15.1% in the fourth quarter, selling 16,418 shares and leaving it with 92,155 shares valued at about $8.85 million.
• Medtronic reported better-than-expected quarterly results, with EPS of $1.55 and revenue of $9.81 billion, and it raised its quarterly dividend to $0.72 per share.
• Wall Street remains generally positive on the stock, with a consensus “Moderate Buy” rating and an average price target of $99, even as some analysts trimmed targets.

Anchor Investment Management LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,155 shares of the medical technology company's stock after selling 16,418 shares during the quarter. Medtronic makes up approximately 0.7% of Anchor Investment Management LLC's holdings, making the stock its 27th biggest position. Anchor Investment Management LLC's holdings in Medtronic were worth $8,852,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MDT. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic in the fourth quarter valued at about $27,000. Anfield Capital Management LLC grew its holdings in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Monetary Solutions Ltd purchased a new stake in Medtronic in the fourth quarter worth $27,000. Board of the Pension Protection Fund bought a new stake in Medtronic during the 4th quarter valued at about $29,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of Medtronic in the 4th quarter worth $29,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

Medtronic Trading Up 1.6%

Shares of Medtronic stock opened at $79.37 on Friday. The stock has a market cap of $101.90 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58. The firm has a fifty day moving average price of $80.32 and a 200 day moving average price of $90.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company's revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic's payout ratio is currently 76.14%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MDT. Weiss Ratings downgraded shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Mizuho lowered their price objective on Medtronic from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, June 3rd. Rothschild & Co Redburn dropped their target price on Medtronic from $111.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Barclays boosted their target price on Medtronic from $118.00 to $120.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Finally, UBS Group decreased their price target on Medtronic from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

About Medtronic

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).

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