Continuum Advisory LLC trimmed its stake in Medtronic PLC (NYSE:MDT - Free Report) by 87.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,055 shares of the medical technology company's stock after selling 44,102 shares during the quarter. Continuum Advisory LLC's holdings in Medtronic were worth $474,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in MDT. Monetary Solutions Ltd purchased a new stake in shares of Medtronic during the fourth quarter worth about $27,000. Anfield Capital Management LLC raised its position in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after buying an additional 230 shares during the last quarter. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $29,000. Imprint Wealth LLC acquired a new stake in Medtronic during the third quarter worth approximately $31,000. Finally, Basepoint Wealth LLC acquired a new stake in Medtronic during the fourth quarter worth approximately $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MDT has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Medtronic in a research note on Tuesday. Wells Fargo & Company reduced their price target on Medtronic from $114.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. Royal Bank Of Canada restated an "outperform" rating and set a $118.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on Medtronic in a research report on Wednesday, June 3rd. Finally, Sanford C. Bernstein dropped their target price on Medtronic from $112.00 to $97.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.83.
Check Out Our Latest Stock Report on Medtronic
Medtronic Stock Performance
Shares of MDT stock opened at $92.45 on Friday. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm has a market capitalization of $118.33 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 0.55. The company's fifty day moving average price is $84.12 and its two-hundred day moving average price is $86.01.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company's revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. Medtronic's dividend payout ratio is currently 77.21%.
Insider Buying and Selling
In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company's stock.
About Medtronic
(
Free Report)
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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