Jones Financial Companies Lllp Decreases Stake in Medtronic PLC $MDT

Key Points

• Jones Financial Companies Lllp reduced its stake in Medtronic PLC (NYSE:MDT) by 67.6%, selling 352,817 shares and holding 169,210 shares valued at approximately $15.2 million.
• Medtronic reported $1.26 EPS for the latest quarter, beating analysts' estimates, with a revenue of $8.58 billion, marking a 7.7% increase year-over-year.
• The company announced a quarterly dividend of $0.71, set to be paid on October 17th, with a yield of 3.1% and a payout ratio of 78.24%.

Jones Financial Companies Lllp lowered its position in Medtronic PLC (NYSE:MDT - Free Report) by 67.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 169,210 shares of the medical technology company's stock after selling 352,817 shares during the period. Jones Financial Companies Lllp's holdings in Medtronic were worth $15,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Burkett Financial Services LLC lifted its holdings in 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 purchasing an additional 185 shares in the last quarter. 1248 Management LLC purchased a new position in Medtronic in the 1st quarter valued at $26,000. Wood Tarver Financial Group LLC purchased a new position in Medtronic in the 4th quarter valued at $27,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter valued at $28,000. Finally, Twin Tree Management LP purchased a new position in Medtronic in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.1%

NYSE MDT opened at $92.93 on Monday. The firm's 50-day moving average is $90.97 and its two-hundred day moving average is $88.14. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. 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 stock has a market capitalization of $119.20 billion, a P/E ratio of 25.60, a PEG ratio of 2.36 and a beta of 0.77.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a $0.71 dividend. 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 3.1%. Medtronic's dividend payout ratio is presently 78.24%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MDT. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Wells Fargo & Company boosted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Evercore ISI boosted their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, UBS Group boosted their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $102.14.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were acquired 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 directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

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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