Andra AP fonden Decreases Stock Holdings in Medtronic PLC $MDT

Key Points

• Andra AP fonden cut its Medtronic stake by 14.5% in the second quarter, selling 36,800 shares and retaining 216,529 shares valued at approximately $16.9 million. Institutional investors collectively own 82.06% of the company.
• Analyst sentiment remains favorable, with 19 Buy ratings and nine Holds producing a consensus “Moderate Buy” rating and an average price target of $103.92.
• Medtronic exceeded quarterly earnings and revenue expectations, reporting $1.45 in EPS and $9.76 billion in revenue, while announcing a quarterly dividend of $0.72 per share, equivalent to a 3.2% yield.

Andra AP fonden reduced its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 14.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 216,529 shares of the medical technology company's stock after selling 36,800 shares during the quarter. Andra AP fonden's holdings in Medtronic were worth $16,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Monetary Solutions Ltd purchased a new position in Medtronic during the 4th quarter valued at about $27,000. Basepoint Wealth LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $32,000. Modus Advisors LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $36,000. IAG Wealth Partners LLC bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $30,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the subject of a number of recent analyst reports. Truist Financial restated a "hold" rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Needham & Company LLC reiterated a "buy" rating on shares of Medtronic in a report on Thursday, September 17th. Royal Bank Of Canada reissued an "outperform" rating and set a $118.00 price objective on shares of Medtronic in a research report on Wednesday, September 2nd. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. Finally, Stifel Nicolaus raised their target price on shares of Medtronic from $80.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, September 2nd. Nineteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.92.

Medtronic Stock Performance

Shares of MDT stock opened at $90.67 on Wednesday. The company's fifty day moving average price is $89.31 and its 200-day moving average price is $84.87. The stock has a market cap of $115.98 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 2.09 and a beta of 0.56. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same period last year, the business earned $1.26 EPS. Medtronic's quarterly revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, equities analysts expect that Medtronic PLC will post 5.97 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic's dividend payout ratio is currently 70.94%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of the firm's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the transaction, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by insiders.

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.

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