Great Waters Wealth Management Sells 3,344 Shares of Medtronic PLC $MDT

Key Points

• Great Waters Wealth Management reduced its holdings in Medtronic PLC by 22.0%, selling 3,344 shares and holding 11,834 shares valued at approximately $1,032,000.
• Medtronic's stocks saw significant activity from institutional investors, with 82.06% of its shares owned by them, including Boston Partners increasing their stake by 122.8% in the first quarter.
• The company recently announced a quarterly dividend of $0.71 per share, representing a 3.0% yield with an ex-dividend date set for September 26th.

Great Waters Wealth Management trimmed its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 22.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,834 shares of the medical technology company's stock after selling 3,344 shares during the period. Great Waters Wealth Management's holdings in Medtronic were worth $1,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock valued at $11,233,780,000 after acquiring an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Medtronic by 7.0% during the first 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 position in shares of Medtronic by 3.8% in the first 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 purchasing an additional 756,192 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock worth $1,708,220,000 after purchasing an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Medtronic by 9.9% in the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

Medtronic Price Performance

Shares of NYSE:MDT traded down $0.68 on Friday, hitting $94.91. The company's stock had a trading volume of 15,672,301 shares, compared to its average volume of 6,450,186. The company has a 50-day simple moving average of $92.05 and a 200 day simple moving average of $88.29. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The company has a market capitalization of $121.74 billion, a PE ratio of 26.15, a PEG ratio of 2.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MDT shares. Truist Financial raised their price objective on shares of Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research note on Thursday, August 21st. BTIG Research reiterated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Mizuho lifted their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Citigroup boosted their target price on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $102.27.

Medtronic Company Profile

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.