Chiron Capital Management LLC Reduces Stock Position in Medtronic PLC $MDT

Key Points

• Chiron Capital Management LLC reduced its stake in Medtronic PLC by 33.3%, holding 13,251 shares after selling 6,601 shares in Q1, making Medtronic the 24th largest position in its portfolio.
• Medtronic's recent quarterly earnings exceeded analysts' expectations with $1.26 earnings per share and revenues of $8.58 billion, marking a 7.7% year-over-year increase.
• The company announced a quarterly dividend of $0.71 per share, set to be paid on October 17th, with an annual yield of 3.1%.

Chiron Capital Management LLC trimmed its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 33.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,251 shares of the medical technology company's stock after selling 6,601 shares during the period. Medtronic makes up about 1.1% of Chiron Capital Management LLC's holdings, making the stock its 24th largest holding. Chiron Capital Management LLC's holdings in Medtronic were worth $1,191,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MDT. Burkett Financial Services LLC increased its position in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the period. 1248 Management LLC purchased a new position in Medtronic in the first quarter valued at $26,000. Wood Tarver Financial Group LLC purchased a new position in Medtronic in the fourth quarter valued at $27,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the first quarter valued at $28,000. Finally, Twin Tree Management LP purchased a new position in Medtronic in the first quarter valued at $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at $461,850. This trade 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 Stock Performance

Shares of MDT traded up $0.08 during mid-day trading on Friday, hitting $92.93. 4,856,702 shares of the company's stock were exchanged, compared to its average volume of 7,029,722. 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 firm has a market capitalization of $119.20 billion, a P/E ratio of 25.60, a P/E/G ratio of 2.36 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The business's 50 day moving average is $90.97 and its two-hundred day moving average is $88.13.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Analyst Ratings Changes

Several research firms recently commented on MDT. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Royal Bank Of Canada dropped their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein increased their target price on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. Finally, UBS Group raised their price objective on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.14.

About Medtronic

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.