Medtronic PLC $MDT Position Decreased by Parcion Private Wealth LLC

Key Points

• Parcion Private Wealth LLC significantly reduced its position in Medtronic PLC by 96.9%, selling 102,784 shares and leaving it with only 3,300 shares valued at $288,000.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding analysts' expectations and achieving a revenue of $8.58 billion, a 7.7% increase compared to the previous year.
• The company recently declared a quarterly dividend of $0.71 per share, translating to an annualized dividend yield of 3.0% with a payout ratio of 78.24%.

Parcion Private Wealth LLC trimmed its position in Medtronic PLC (NYSE:MDT - Free Report) by 96.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,300 shares of the medical technology company's stock after selling 102,784 shares during the quarter. Parcion Private Wealth LLC's holdings in Medtronic were worth $288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Advisory Services LLC acquired a new position in shares of Medtronic in the first quarter worth about $541,000. GC Wealth Management RIA LLC boosted its holdings in shares of Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company's stock worth $2,926,000 after buying an additional 5,734 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company's stock worth $2,562,000 after buying an additional 5,296 shares during the period. RNC Capital Management LLC boosted its holdings in shares of Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock worth $37,474,000 after buying an additional 33,729 shares during the period. Finally, Commerce Bank boosted its holdings in shares of Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock worth $13,118,000 after buying an additional 2,429 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

NYSE MDT opened at $95.84 on Thursday. The company has a 50 day simple moving average of $94.26 and a 200-day simple moving average of $89.17. 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 firm has a market capitalization of $122.93 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. The Goldman Sachs Group decreased their target price on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a report on Wednesday, October 1st. Argus raised their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Finally, Daiwa Capital Markets increased their price target on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $102.82.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly 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 the SEC website. Also, Director William R. Jellison bought 2,500 shares of the 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 completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was 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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