Lansforsakringar Fondforvaltning AB publ Has $2.47 Million Position in Medtronic PLC $MDT

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Medtronic PLC by 15.6%, holding 27,455 shares worth approximately $2.47 million after selling 5,076 shares.
• Analysts have a generally positive outlook on Medtronic, with an average rating of "Moderate Buy" and a price target of $102.14, reflecting optimism about the company's future performance.
• Medtronic announced a quarterly dividend of $0.71 per share, which is set to be paid on October 17th, representing an annualized yield of 3.1%.

Lansforsakringar Fondforvaltning AB publ trimmed its stake in Medtronic PLC (NYSE:MDT - Free Report) by 15.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,455 shares of the medical technology company's stock after selling 5,076 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Medtronic were worth $2,467,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC raised its stake in shares of 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 acquiring an additional 185 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the 4th quarter valued at approximately $27,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic in the 1st quarter valued at approximately $28,000. Hughes Financial Services LLC bought a new position in shares of Medtronic in the 1st quarter valued at approximately $32,000. Finally, Chapman Financial Group LLC bought a new position in shares of Medtronic in the 4th quarter valued at approximately $33,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

NYSE:MDT traded up $0.56 during trading hours on Thursday, reaching $92.81. The company had a trading volume of 6,628,194 shares, compared to its average volume of 7,641,780. The stock has a 50-day moving average of $90.71 and a two-hundred day moving average of $88.09. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The firm has a market capitalization of $119.05 billion, a PE ratio of 25.57, a PEG ratio of 2.36 and a beta of 0.77. The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm 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 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 payout ratio is currently 78.24%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MDT shares. Truist Financial raised their price objective on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. UBS Group upped their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Royal Bank Of Canada cut their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company's stock.

Medtronic 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.