Balefire LLC Sells 25,744 Shares of Medtronic PLC $MDT

Key Points

• Balefire LLC cut its Medtronic position by 67.1% in the second quarter, selling 25,744 shares and retaining 12,614 shares valued at approximately $987,000. Institutional investors still own 82.06% of the company.
• Analyst sentiment remains positive overall, with 18 Buy ratings and nine Holds, producing a “Moderate Buy” consensus and an average price target of $98.83, despite several firms recently lowering their targets.
• Medtronic exceeded quarterly revenue and adjusted-EPS expectations, while raising its quarterly dividend to $0.72, but faces litigation risk after a jury ordered it to pay $88 million in a hernia-mesh case.

Balefire LLC decreased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 67.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,614 shares of the medical technology company's stock after selling 25,744 shares during the period. Balefire LLC's holdings in Medtronic were worth $987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MDT. Anfield Capital Management LLC boosted its stake in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after purchasing an additional 230 shares during the period. Monetary Solutions Ltd bought a new stake in Medtronic in the 4th quarter valued at about $27,000. Acumen Wealth Advisors LLC acquired a new position in Medtronic in the 4th quarter valued at $29,000. Imprint Wealth LLC bought a new position in Medtronic in the 3rd quarter valued at about $31,000. Finally, Basepoint Wealth LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $32,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDT. Robert W. Baird dropped their price objective on shares of Medtronic from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $101.00 price objective on shares of Medtronic in a research report on Wednesday, June 17th. BTIG Research reiterated a "buy" rating and issued a $91.00 price target on shares of Medtronic in a report on Monday, July 13th. Truist Financial decreased their price objective on Medtronic from $95.00 to $86.00 and set a "hold" rating for the company in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $98.83.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic received an expanded CE Mark indication in Europe for its Affera™ Mapping and Ablation System and Sphere-9™ Catheter to treat ventricular arrhythmias, including ventricular tachycardia and premature ventricular complexes. The approval expands the addressable market for the company’s cardiac-ablation technology and supports its international growth strategy. U.S. pivotal-trial enrollment is also underway. Medtronic announces expanded CE Mark indication for Affera and Sphere-9
• Positive Sentiment: A bullish investment opinion argues that Medtronic’s medical-device portfolio and long-term growth prospects could support substantial appreciation through the end of 2026. This is an analyst-style opinion rather than a new company announcement, so its effect is likely limited. Medtronic could soar by 40 percent
• Neutral Sentiment: Medtronic recently exceeded quarterly revenue and adjusted-EPS expectations, reporting $9.81 billion in revenue and $1.55 in EPS. Revenue increased 9.9% year over year, while full-year fiscal 2027 EPS guidance remains $5.90 to $6.00. These results provide a constructive operating backdrop but do not eliminate litigation concerns.
• Negative Sentiment: A U.S. jury ordered Medtronic to pay $88 million in the first trial involving allegations related to Covidien hernia mesh. Although the award may be manageable relative to Medtronic’s size, the verdict could raise concerns about additional lawsuits, settlement costs and potential reputational damage. Jury says Medtronic owes 88 million dollars in hernia mesh case

Medtronic Stock Performance

Medtronic stock opened at $85.92 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The stock has a market cap of $109.98 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.31 and a beta of 0.55. The firm's fifty day moving average price is $81.68 and its 200-day moving average price is $86.68. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the company earned $1.62 EPS. Medtronic's revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. This is a positive change from Medtronic's previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's dividend payout ratio is currently 77.21%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

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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