HighTower Advisors LLC Has $30.77 Million Holdings in Medtronic PLC $MDT

Key Points

• HighTower Advisors cut its Medtronic stake by 70.3% in the second quarter, selling 929,333 shares and retaining 393,328 shares valued at approximately $30.77 million. Institutional investors collectively own 82.06% of the company.
• Analysts maintain a “Moderate Buy” consensus, with 19 Buy ratings and nine Holds and an average price target of $103.92, above the stock’s reported $92.41 opening price.
• Medtronic exceeded quarterly expectations with $1.45 in EPS and $9.76 billion in revenue, while announcing a quarterly dividend of $0.72 per share, representing a 3.1% yield.

HighTower Advisors LLC lessened its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 70.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 393,328 shares of the medical technology company's stock after selling 929,333 shares during the quarter. HighTower Advisors LLC's holdings in Medtronic were worth $30,770,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the 4th quarter valued at $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Medtronic in the 4th quarter worth about $29,000. Imprint Wealth LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $31,000. Basepoint Wealth LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $32,000. Finally, Tucker Asset Management LLC bought a new position in Medtronic during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler restated a "neutral" rating on shares of Medtronic in a research report on Monday, August 10th. Sanford C. Bernstein cut their target price on shares of Medtronic from $112.00 to $97.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Rothschild & Co Redburn reduced their target price on Medtronic from $111.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, June 5th. BTIG Research increased their price target on Medtronic from $91.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company raised their price target on Medtronic from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. Nineteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.92.

Medtronic Price Performance

Medtronic stock opened at $92.41 on Wednesday. The business's 50-day simple moving average is $87.33 and its 200 day simple moving average is $85.21. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The stock has a market cap of $118.20 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 2.21 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The firm had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $9.55 billion. During the same period in the previous year, the business posted $1.26 EPS. The company's quarterly revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.96 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic's payout ratio is 70.94%.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company's portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.

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