Deutsche Bank AG Trims Holdings in Medtronic PLC $MDT

Deutsche Bank AG cut its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,449,877 shares of the medical technology company's stock after selling 552,537 shares during the quarter. Deutsche Bank AG owned about 1.44% of Medtronic worth $1,443,334,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company's stock worth $380,000 after acquiring an additional 381 shares during the period. Jump Financial LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at approximately $299,000. Main Street Financial Solutions LLC grew its stake in shares of Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company's stock valued at $1,251,000 after purchasing an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC increased its holdings in shares of Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company's stock valued at $1,676,000 after purchasing an additional 3,376 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.8%

MDT stock opened at $92.45 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The company's 50-day moving average price is $84.12 and its 200 day moving average price is $86.01. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a market cap 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.

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, beating analysts' consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the firm earned $1.62 EPS. The company's revenue for the quarter was up 9.9% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's payout ratio is 77.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MDT shares. Evercore set a $105.00 price target on Medtronic in a research note on Monday, July 6th. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Needham & Company LLC reissued a "buy" rating and issued a $101.00 price objective on shares of Medtronic in a research note on Wednesday, June 17th. Royal Bank Of Canada restated an "outperform" rating and set a $118.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Medtronic in a research note on Tuesday. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.83.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business'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 value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares of the company's stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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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