Daymark Wealth Partners LLC Sells 35,341 Shares of Medtronic PLC $MDT

Daymark Wealth Partners LLC lowered its stake in Medtronic PLC (NYSE:MDT - Free Report) by 66.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,109 shares of the medical technology company's stock after selling 35,341 shares during the period. Daymark Wealth Partners LLC's holdings in Medtronic were worth $1,417,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company's stock valued at $12,388,027,000 after acquiring an additional 1,888,381 shares during the last quarter. State Street Corp lifted its holdings in shares of Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company's stock worth $5,966,780,000 after acquiring an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company's stock worth $5,150,420,000 after purchasing an additional 1,419,730 shares during the period. Capital Research Global Investors boosted its stake in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company's stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Medtronic by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company's stock valued at $2,665,832,000 after purchasing an additional 231,919 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Transactions at Medtronic

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

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $80.00 price objective on shares of Medtronic in a research report on Wednesday, June 3rd. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Mizuho reduced their price target on Medtronic from $120.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, June 3rd. UBS Group raised Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the stock from $85.00 to $100.00 in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company dropped their price objective on Medtronic from $114.00 to $102.00 and set an "overweight" rating for the company in a report 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.83.

Medtronic Trading Down 0.2%

Shares of MDT opened at $91.10 on Monday. The firm has a market capitalization of $116.62 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a 50-day moving average of $83.20 and a 200 day moving average of $86.26.

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

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.2%. This is an increase from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's payout ratio is currently 77.21%.

Medtronic Company Profile

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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