Calamos Advisors LLC Reduces Stock Holdings in Medtronic PLC $MDT

Key Points

• Calamos Advisors reduced its Medtronic stake by 29.4% in the second quarter, selling 177,132 shares and retaining 425,833 shares valued at approximately $33.3 million. Institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly revenue of $9.81 billion and adjusted EPS of $1.55, slightly exceeding analyst expectations; revenue increased 9.9% year over year. The company issued fiscal 2027 EPS guidance of $5.90–$6.00.
• The company raised its quarterly dividend to $0.72 per share, representing an annualized payout of $2.88 and a 3.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $98.83.

Calamos Advisors LLC reduced its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 29.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 425,833 shares of the medical technology company's stock after selling 177,132 shares during the period. Calamos Advisors LLC's holdings in Medtronic were worth $33,313,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Madison Asset Management LLC lifted its holdings in Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company's stock valued at $18,752,000 after acquiring an additional 25,527 shares during the last quarter. Ticino Wealth purchased a new position in Medtronic in the fourth quarter worth approximately $2,049,000. First Eagle Investment Management LLC increased its stake in Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company's stock worth $939,009,000 after acquiring an additional 40,196 shares during the last quarter. Gradient Investments LLC increased its stake in Medtronic by 3.9% during the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company's stock worth $38,842,000 after acquiring an additional 18,509 shares during the last quarter. Finally, Czech National Bank raised its position in Medtronic by 4.7% in the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company's stock valued at $28,589,000 after purchasing an additional 16,292 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Up 0.6%

MDT opened at $91.10 on Friday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $83.20 and a 200-day simple moving average of $86.36. The firm has a market cap of $116.62 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The company's quarterly revenue 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 analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. This is a boost from Medtronic's previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's dividend payout ratio is currently 77.21%.

Analysts Set New Price Targets

Several brokerages have recently commented on MDT. Sanford C. Bernstein decreased their price target on Medtronic from $112.00 to $97.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Mizuho cut 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. Evercore set a $105.00 price objective on shares of Medtronic in a report on Monday, July 6th. Weiss Ratings cut shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a research note on Monday, August 10th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus price target of $98.83.

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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