Greenleaf Trust Has $1.17 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Greenleaf Trust reduced its stake in Medtronic PLC by 37.2%, now holding 13,359 shares worth approximately $1.17 million.
• Medtronic's recent earnings report showed $1.26 EPS and revenues of $8.58 billion, surpassing estimates, with a year-on-year revenue growth of 7.7%.
• The company announced a quarterly dividend of $0.71 per share, translating to an annualized dividend yield of 3.0%.

Greenleaf Trust lowered its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 37.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,359 shares of the medical technology company's stock after selling 7,920 shares during the quarter. Greenleaf Trust's holdings in Medtronic were worth $1,165,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 1248 Management LLC bought a new position in Medtronic in the first quarter valued at $26,000. Burkett Financial Services LLC grew its holdings in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares in the last quarter. Columbia River Financial Group LLC bought a new position in shares of Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP bought a new position in shares of Medtronic in the 1st quarter valued at about $29,000. Finally, Activest Wealth Management grew its stake in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after purchasing an additional 322 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Mizuho raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Leerink Partners initiated coverage on shares of Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.27.

Insider Buying and Selling

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

Medtronic Trading Down 0.4%

MDT stock opened at $94.85 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a fifty day moving average price of $92.78 and a two-hundred day moving average price of $88.45. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The stock has a market cap of $121.66 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic's payout ratio is currently 78.24%.

Medtronic 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.