Medtronic PLC $MDT Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in Medtronic PLC by 0.6%, holding 701,500 shares valued at approximately $58.36 million after selling 4,000 shares.
• Medtronic reported a net revenue of $8.58 billion for the last quarter, exceeding analysts' expectations, with an EPS of $1.26.
• The company has announced a quarterly dividend of $0.71, which will be paid on October 17th, reflecting a 3.1% dividend yield on an annualized basis.

APG Asset Management N.V. lowered its stake in Medtronic PLC (NYSE:MDT - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 701,500 shares of the medical technology company's stock after selling 4,000 shares during the quarter. APG Asset Management N.V. owned about 0.05% of Medtronic worth $58,357,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MDT. Boston Partners lifted its stake in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after purchasing an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after buying an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after buying an additional 3,017,849 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Medtronic during the 1st quarter valued at about $260,649,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in shares of Medtronic during the 4th quarter valued at about $174,329,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Down 0.7%

MDT stock traded down $0.69 during mid-day trading on Monday, reaching $92.02. The company had a trading volume of 4,763,821 shares, compared to its average volume of 7,593,159. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The company has a market capitalization of $117.95 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.35 and a beta of 0.80. The firm has a 50 day moving average of $89.81 and a 200 day moving average of $88.00. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion for 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 14.56%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Insider Activity

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MDT shares. Royal Bank Of Canada decreased their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Truist Financial increased their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average target price of $101.15.

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.