Diamond Hill Capital Management LLC Investment Advisor cut its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,684,110 shares of the medical technology company's stock after selling 299,750 shares during the period. Diamond Hill Capital Management LLC Investment Advisor owned about 0.13% of Medtronic worth $131,748,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of MDT. Argent Trust Co increased its holdings in Medtronic by 3.2% during the 2nd quarter. Argent Trust Co now owns 95,511 shares of the medical technology company's stock valued at $7,472,000 after purchasing an additional 2,985 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Medtronic in the second quarter worth $4,618,000. Fielder Capital Group LLC acquired a new position in Medtronic in the second quarter worth $204,000. IAG Wealth Partners LLC bought a new stake in shares of Medtronic during the second quarter worth $30,000. Finally, CORDA Investment Management LLC. grew its holdings in shares of Medtronic by 9.0% during the second quarter. CORDA Investment Management LLC. now owns 296,967 shares of the medical technology company's stock worth $23,232,000 after purchasing an additional 24,604 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction dated 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 directly owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.
Medtronic Stock Down 1.8%
NYSE MDT opened at $92.45 on Friday. The stock has a fifty day moving average of $84.12 and a 200-day moving average of $86.01. The stock has a market capitalization of $118.33 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13.
Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The firm's quarterly revenue 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, equities research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.
Medtronic Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic's payout ratio is currently 77.21%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on MDT shares. Needham & Company LLC restated a "buy" rating and issued a $101.00 target price on shares of Medtronic in a research note on Wednesday, June 17th. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a research report on Wednesday, June 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Medtronic in a report on Tuesday. Truist Financial lowered their price objective on shares of Medtronic from $95.00 to $86.00 and set a "hold" rating for the company in a research report on Thursday, June 4th. Finally, TD Cowen dropped their target price on shares of Medtronic from $119.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Eighteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.83.
View Our Latest Research Report on MDT
Medtronic Company Profile
(
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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