Guggenheim Capital LLC Sells 56,675 Shares of Medtronic PLC $MDT

Key Points

• Guggenheim Capital LLC reduced its Medtronic PLC holdings by 11.7%, selling 56,675 shares to own a total of 428,316 shares valued at $38.5 million.
• Medtronic recently reported a 7.7% year-over-year increase in revenue, reaching $8.58 billion, and earnings per share of $1.26, exceeding expectations.
• The company announced a quarterly dividend of $0.71 per share, reflecting an annualized dividend of $2.84 and a yield of 3.1%.

Guggenheim Capital LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 428,316 shares of the medical technology company's stock after selling 56,675 shares during the period. Guggenheim Capital LLC's holdings in Medtronic were worth $38,488,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. CreativeOne Wealth LLC boosted its stake in Medtronic by 13.1% during the 1st quarter. CreativeOne Wealth LLC now owns 14,110 shares of the medical technology company's stock valued at $1,268,000 after purchasing an additional 1,631 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of Medtronic by 64.4% in the 1st quarter. Ieq Capital LLC now owns 165,333 shares of the medical technology company's stock worth $14,857,000 after buying an additional 64,747 shares during the last quarter. Quadcap Wealth Management LLC boosted its stake in shares of Medtronic by 6.1% in the 1st quarter. Quadcap Wealth Management LLC now owns 20,035 shares of the medical technology company's stock worth $1,800,000 after buying an additional 1,160 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of Medtronic by 31.8% in the 1st quarter. Ceredex Value Advisors LLC now owns 470,609 shares of the medical technology company's stock worth $42,289,000 after buying an additional 113,595 shares during the last quarter. Finally, Widmann Financial Services Inc. boosted its stake in shares of Medtronic by 12.2% in the 1st quarter. Widmann Financial Services Inc. now owns 4,272 shares of the medical technology company's stock worth $384,000 after buying an additional 465 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.1%

Shares of MDT stock opened at $92.18 on Wednesday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The stock's 50-day moving average price is $89.93 and its 200-day moving average price is $88.03. The stock has a market capitalization of $118.15 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its 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. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The business'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. Equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is 78.24%.

Insiders Place Their Bets

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were bought at an average cost 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 of the company's stock, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

MDT has been the topic of a number of research reports. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. UBS Group lifted their target price on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Citigroup lifted their target price on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Truist Financial lifted their target price on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research report on Thursday, August 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.14.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

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.