Insight Inv LLC Cuts Stock Position in Medtronic PLC $MDT

Key Points

• Insight Inv LLC has significantly reduced its stake in Medtronic PLC by 48.7%, now holding 14,073 shares valued at approximately $1.23 million.
• Director William R. Jellison has increased his holdings by acquiring 2,500 shares, while EVP Harry Skip Kiil sold 8,605 shares, reflecting contrasting insider trading activities.
• Medtronic announced a quarterly dividend of $0.71 per share, with a yield of 2.9%, to be paid on October 17th, impacting the company’s overall investor appeal.

Insight Inv LLC cut its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 48.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,073 shares of the medical technology company's stock after selling 13,383 shares during the period. Insight Inv LLC's holdings in Medtronic were worth $1,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. Legacy Advisory Services LLC purchased a new stake in shares of Medtronic during the first quarter worth approximately $541,000. GC Wealth Management RIA LLC increased its stake in shares of Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company's stock worth $2,926,000 after buying an additional 5,734 shares during the period. RNC Capital Management LLC increased its stake in shares of Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock worth $37,474,000 after buying an additional 33,729 shares during the period. Commerce Bank increased its stake in shares of Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock worth $13,118,000 after buying an additional 2,429 shares during the period. Finally, Brighton Jones LLC increased its stake in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Medtronic Price Performance

Shares of NYSE MDT opened at $97.88 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The stock has a 50 day moving average of $93.31 and a two-hundred day moving average of $88.65. The stock has a market cap of $125.55 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.59 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 for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid 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 2.9%. Medtronic's payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent research reports. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Evercore ISI upped their target price on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Robert W. Baird upped their price target on Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Finally, UBS Group upped their price target on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $101.63.

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.

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