Lingohr Asset Management GmbH Trims Stock Holdings in Medtronic PLC $MDT

Key Points

• Lingohr Asset Management GmbH has significantly reduced its stake in Medtronic PLC by 82.5%, selling 47,500 shares and now owning only 10,075 shares.
• Several institutional investors have adjusted their positions in Medtronic, with notable increases and new acquisitions in the first quarter, leading to 82.06% of the stock being owned by hedge funds and other institutions.
• Medtronic announced a quarterly dividend of $0.71 per share, representing an annualized dividend yield of 3.0%, with the next payment scheduled for October 17th.

Lingohr Asset Management GmbH reduced its stake in Medtronic PLC (NYSE:MDT - Free Report) by 82.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,075 shares of the medical technology company's stock after selling 47,500 shares during the quarter. Medtronic comprises approximately 1.6% of Lingohr Asset Management GmbH's portfolio, making the stock its 19th biggest holding. Lingohr Asset Management GmbH's holdings in Medtronic were worth $878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MDT. 1248 Management LLC acquired a new stake in Medtronic during the first quarter worth about $26,000. Burkett Financial Services LLC raised its position 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 purchasing an additional 185 shares in the last quarter. Columbia River Financial Group LLC acquired a new stake in Medtronic in the first quarter valued at $28,000. Twin Tree Management LP acquired a new stake in Medtronic in the first quarter valued at $29,000. Finally, Activest Wealth Management raised its holdings in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after acquiring an additional 322 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.2%

Shares of NYSE MDT opened at $94.05 on Monday. The company has a market cap of $120.64 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock's 50 day simple moving average is $91.50 and its 200 day simple moving average is $88.25.

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 (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Analysts Set New Price Targets

Several research analysts have recently commented on MDT shares. Truist Financial lifted their target price on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Robert W. Baird lifted their target price on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Sanford C. Bernstein lifted their target price on Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Argus lifted their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, Citigroup lifted their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $102.14.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, 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.

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.

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