Generali Asset Management SPA SGR Sells 34,433 Shares of Medtronic PLC $MDT

Key Points

• Generali Asset Management SPA SGR has reduced its stake in Medtronic PLC by 45.7%, now holding 40,884 shares valued at approximately $3.56 million after selling 34,433 shares.
• Several institutional investors, including Activest Wealth Management, made significant increases in their stakes in Medtronic during the first quarter, reflecting a growing interest in the medical technology company.
• Analyst ratings for Medtronic are mixed, with Citi raising its target price from $101 to $112 and maintaining a "buy" rating, while Goldman Sachs set a "sell" rating, reflecting varying outlooks on the company's performance.

Generali Asset Management SPA SGR cut its stake in Medtronic PLC (NYSE:MDT - Free Report) by 45.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,884 shares of the medical technology company's stock after selling 34,433 shares during the period. Generali Asset Management SPA SGR's holdings in Medtronic were worth $3,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter worth approximately $26,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic during the first quarter worth approximately $28,000. Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter worth approximately $29,000. Activest Wealth Management raised its stake in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after buying an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new stake in shares of Medtronic during the first quarter worth approximately $32,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Medtronic

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

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research note on Wednesday, October 1st. Citigroup upped their target price on shares of Medtronic from $101.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. Evercore ISI upped their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and an average target price of $102.82.

Medtronic Stock Down 1.3%

Shares of MDT stock opened at $95.29 on Thursday. The firm has a fifty day moving average of $93.94 and a 200-day moving average of $88.90. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a market capitalization of $122.23 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 2.54 and a beta of 0.78.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic's dividend 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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