Manning & Napier Advisors LLC Sells 19,237 Shares of Medtronic PLC $MDT

Key Points

• Manning & Napier Advisors cut its Medtronic stake by 16.5% in the fourth quarter, selling 19,237 shares and leaving it with 97,437 shares worth about $9.4 million.
• Institutional ownership remains heavy, with several other large investors increasing their positions; overall, institutions own about 82.06% of Medtronic shares.
• Analysts remain generally constructive despite some mixed rating and price-target cuts, with a consensus rating of “Moderate Buy” and a consensus price target of $107.80. Medtronic also recently beat quarterly EPS and revenue expectations and maintains a 3.7% dividend yield.

Manning & Napier Advisors LLC trimmed its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,437 shares of the medical technology company's stock after selling 19,237 shares during the quarter. Manning & Napier Advisors LLC's holdings in Medtronic were worth $9,418,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MDT. Barclays PLC boosted its position in Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company's stock valued at $650,604,000 after acquiring an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group boosted its position in Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company's stock valued at $717,143,000 after acquiring an additional 3,307,211 shares in the last quarter. Guinness Asset Management LTD bought a new stake in Medtronic during the 3rd quarter valued at approximately $275,556,000. Wellington Management Group LLP boosted its position in Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company's stock valued at $970,456,000 after acquiring an additional 2,658,981 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Medtronic by 2,297.7% during the 4th quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company's stock valued at $241,179,000 after acquiring an additional 2,406,000 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 52,524 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares of the company's stock, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings cut shares of Medtronic from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, April 21st. Mizuho dropped their price target on shares of Medtronic from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. UBS Group dropped their price target on shares of Medtronic from $104.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 22nd. Truist Financial lowered their price objective on Medtronic from $103.00 to $95.00 and set a "hold" rating on the stock in a research report on Wednesday, April 15th. Finally, Barclays upped their price objective on Medtronic from $118.00 to $120.00 and gave the company an "overweight" rating in a research report on Wednesday, April 1st. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.80.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic received the CE Mark for its Stealth AXiS system, adding to the earlier FDA approval and expanding the next-generation planning, navigation, and robotics platform into Europe. That strengthens the company’s surgical robotics and imaging portfolio and could support future procedure growth. Following FDA Approval, Medtronic (MDT) Receives CE Mark For Stealth AXiS System
• Positive Sentiment: Medtronic expanded its neuromodulation business by launching Adaptive Deep Brain Stimulation for Parkinson’s disease in India, which broadens its reach in a large and growing market and highlights continued innovation in its neurological therapies segment. Medtronic Expands Neuromodulation Reach With Adaptive DBS Launch In India
• Neutral Sentiment: Several articles focused on whether MDT looks attractive after recent share-price weakness and whether Wall Street’s bullish analyst views make the stock worth buying. These pieces can keep attention on the name, but they did not add new fundamental data. Is Medtronic (MDT) Offering Value After Recent Share Price Weakness? Is It Worth Investing in Medtronic (MDT) Based on Wall Street's Bullish Views?
• Neutral Sentiment: Third-party “best stocks” and retiree-income articles also mentioned Medtronic, which may provide some investor visibility, but these are largely promotional and not direct company-specific catalysts. 3 Healthcare Stocks Every Retiree Should Consider Better Than Intuitive Surgical? 1 Under-the-Radar Healthcare Stock to Buy and Hold Forever

Medtronic Price Performance

Shares of NYSE:MDT opened at $76.03 on Friday. The firm's 50 day moving average price is $87.26 and its 200-day moving average price is $94.43. Medtronic PLC has a twelve month low of $75.91 and a twelve month high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $97.62 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.62.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same quarter in the prior year, the business earned $1.38 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.57 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic's dividend payout ratio (DPR) is currently 79.11%.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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