J. Safra Sarasin Holding AG Has $2.72 Million Position in Medtronic PLC $MDT

Key Points

• J. Safra Sarasin Holding AG has significantly reduced its stake in Medtronic PLC by 81.8%, owning 31,313 shares valued at approximately $2.72 million after selling 141,012 shares in the second quarter.
• Medtronic reported a stronger-than-expected quarterly earnings result with an earnings per share (EPS) of $1.26, surpassing the consensus estimate by $0.03, and revenue of $8.58 billion.
• The company declared a quarterly dividend of $0.71 per share, which will be paid on October 17th, reflecting an annualized dividend yield of 3.0%.

J. Safra Sarasin Holding AG decreased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 81.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,313 shares of the medical technology company's stock after selling 141,012 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Medtronic were worth $2,724,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC lifted its stake in shares of Medtronic by 185.0% during the first 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 during the period. 1248 Management LLC bought a new stake in Medtronic during the 1st quarter worth about $26,000. Columbia River Financial Group LLC acquired a new position in Medtronic during 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 position in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after buying an additional 322 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Up 0.8%

Shares of NYSE:MDT opened at $95.57 on Friday. The firm has a market cap of $122.59 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.50 and a beta of 0.78. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The company's fifty day simple moving average is $92.85 and its 200 day simple moving average is $88.46. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company 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 dividend of $0.71 per share. The ex-dividend date of this dividend 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 78.24%.

Wall Street Analyst Weigh In

MDT has been the topic of several analyst reports. Leerink Partners initiated coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective on the stock. Citigroup increased their price target on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Daiwa Capital Markets upped their price objective on Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a report on Friday, September 12th. Finally, Argus raised their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.27.

Insider Activity at Medtronic

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

About Medtronic

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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