Medtronic PLC $MDT Stake Decreased by Altrinsic Global Advisors LLC

Key Points

• Altrinsic Global Advisors LLC has reduced its holdings in Medtronic PLC by 5.6%, now owning approximately 1.82 million shares valued at about $163.55 million.
• Medtronic reported quarterly earnings of $1.26 EPS, exceeding analysts' expectations of $1.23 and showing a 7.7% year-over-year revenue growth.
• The firm declared a quarterly dividend of $0.71 per share, with a dividend yield of 3.1%, to be paid on October 17th.

Altrinsic Global Advisors LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,820,078 shares of the medical technology company's stock after selling 107,468 shares during the period. Medtronic makes up about 8.1% of Altrinsic Global Advisors LLC's holdings, making the stock its 5th biggest position. Altrinsic Global Advisors LLC owned approximately 0.14% of Medtronic worth $163,552,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDT. Brighton Jones LLC boosted its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Medtronic during the 4th quarter valued at approximately $13,546,000. Beacon Pointe Advisors LLC lifted its position in shares of Medtronic by 21.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 20,356 shares of the medical technology company's stock worth $1,626,000 after acquiring an additional 3,589 shares during the period. Optiver Holding B.V. bought a new stake in shares of Medtronic in the 4th quarter worth approximately $31,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Medtronic by 33.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,325,726 shares of the medical technology company's stock worth $345,538,000 after acquiring an additional 1,073,545 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 0.8%

Shares of MDT traded up $0.76 during trading hours on Friday, hitting $92.72. The stock had a trading volume of 5,174,507 shares, compared to its average volume of 7,664,636. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.42. The firm has a 50 day simple moving average of $90.18 and a 200-day simple moving average of $88.07. The firm has a market capitalization of $118.93 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic's payout ratio is presently 78.24%.

Analyst Upgrades and Downgrades

MDT has been the subject of several analyst reports. Sanford C. Bernstein raised 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. Wells Fargo & Company lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Evercore ISI increased their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Mizuho lifted their target price on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. One equities research 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Insider Activity at Medtronic

In other news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.