Van Hulzen Asset Management LLC Sells 3,313 Shares of Medtronic PLC $MDT

Key Points

• Van Hulzen Asset Management LLC has reduced its stake in Medtronic PLC by 39.6%, now owning 5,061 shares valued at approximately $455,000.
• Medtronic's recent earnings report showed an EPS of $1.26, exceeding estimates, with revenue of $8.58 billion, marking a 7.7% increase year-over-year.
• The company declared a quarterly dividend of $0.71, with a 3.1% dividend yield, payable to shareholders on October 17th.

Van Hulzen Asset Management LLC cut its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,061 shares of the medical technology company's stock after selling 3,313 shares during the quarter. Van Hulzen Asset Management LLC's holdings in Medtronic were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Burkett Financial Services LLC lifted its position in Medtronic by 185.0% during the first 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 during the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the 1st quarter worth approximately $28,000. Optiver Holding B.V. bought a new stake in shares of Medtronic in the 4th quarter worth approximately $31,000. Finally, Hughes Financial Services LLC bought a new stake in shares of Medtronic in the 1st quarter worth approximately $32,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MDT. Mizuho boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Royal Bank Of Canada dropped their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Finally, Sanford C. Bernstein upped their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $101.15.

Medtronic Stock Down 0.7%

Shares of Medtronic stock traded down $0.69 during trading on Monday, hitting $92.02. The company's stock had a trading volume of 4,763,821 shares, compared to its average volume of 7,593,159. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The company has a fifty day simple moving average of $89.81 and a two-hundred day simple moving average of $88.00. The company has a market capitalization of $117.95 billion, a PE ratio of 25.35, a P/E/G ratio of 2.35 and a beta of 0.80. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued 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 company 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 14.56%. Medtronic's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. 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 year.

Medtronic Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Insider Activity

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction that occurred 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 acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% 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.