Cwm LLC Sells 9,059 Shares of Medtronic PLC $MDT

Key Points

• Cwm LLC reduced its stake in Medtronic by 3.1%, selling 9,059 shares, and now holds 283,837 shares valued at approximately $24.74 million.
• Multiple hedge funds, including Vanguard Group and Massachusetts Financial Services, have increased their holdings in Medtronic, indicating growing institutional confidence in the company.
• Medtronic recently posted earnings exceeding expectations with a net revenue of $8.58 billion for the quarter and announced a quarterly dividend of $0.71 with a yield of 3.0%.

Cwm LLC trimmed its stake in Medtronic PLC (NYSE:MDT - Free Report) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,837 shares of the medical technology company's stock after selling 9,059 shares during the period. Cwm LLC's holdings in Medtronic were worth $24,742,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after acquiring an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic by 7.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock valued at $2,001,903,000 after buying an additional 1,461,841 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG boosted its position in shares of Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock valued at $1,708,220,000 after acquiring an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock valued at $1,525,876,000 after acquiring an additional 1,535,308 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MDT. Mizuho increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Argus raised their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Evercore ISI upped their price target on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and an average price target of $102.41.

Insider Buying and Selling

In related news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Trading Down 1.0%

Shares of MDT opened at $95.52 on Monday. The stock has a fifty day moving average price of $93.56 and a two-hundred day moving average price of $88.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The company has a market cap of $122.52 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.51 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's payout ratio is currently 78.24%.

About Medtronic

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.

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