Laffer Tengler Investments Inc. Trims Stake in Medtronic PLC $MDT

Key Points

• Laffer Tengler Investments Inc. sold 5,265 shares of Medtronic PLC, reducing its position by 8.8% and now holds a total of 54,738 shares valued at approximately $4.9 million.
• Institutional investors own 82.06% of Medtronic's stock, with Burkett Financial Services LLC increasing its stake by 185% during the first quarter.
• Medtronic has announced a quarterly dividend of $0.71 to be paid on October 17th, resulting in an annualized dividend yield of 3.1%.

Laffer Tengler Investments Inc. cut its position in Medtronic PLC (NYSE:MDT - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,738 shares of the medical technology company's stock after selling 5,265 shares during the quarter. Laffer Tengler Investments Inc.'s holdings in Medtronic were worth $4,919,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC raised its holdings in Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after acquiring an additional 124 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after acquiring an additional 126 shares in the last quarter. Petros Family Wealth LLC raised its holdings in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after acquiring an additional 127 shares in the last quarter. Motco raised its holdings in Medtronic by 27.0% in the 1st quarter. Motco now owns 635 shares of the medical technology company's stock valued at $57,000 after acquiring an additional 135 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its holdings in Medtronic by 3.1% in the 1st quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company's stock valued at $410,000 after acquiring an additional 136 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.7%

Shares of Medtronic stock traded down $0.69 on Monday, hitting $92.02. 4,763,821 shares of the company's stock traded hands, compared to its average volume of 7,720,845. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The company has a fifty day moving average of $89.73 and a two-hundred day moving average of $87.99. The company has a market capitalization of $117.95 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.35 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. 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, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 annualized dividend and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MDT. Royal Bank Of Canada dropped their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Mizuho boosted their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. UBS Group boosted their price target on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, Morgan Stanley reissued an "overweight" rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $101.15.

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.