Medtronic PLC $MDT Shares Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA has reduced its stake in Medtronic PLC by 7.7%, owning 69,968 shares after selling 5,830 shares during the second quarter, with a total value of approximately $6.1 million.
• Medtronic's recent quarterly earnings showed $1.26 earnings per share, surpassing estimates, and a 7.7% year-on-year revenue increase, totaling $8.58 billion.
• Medtronic has declared a quarterly dividend of $0.71 per share to be paid on October 17th, representing an annual yield of 3.0%.

Banque Pictet & Cie SA reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 7.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 69,968 shares of the medical technology company's stock after selling 5,830 shares during the quarter. Banque Pictet & Cie SA's holdings in Medtronic were worth $6,099,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. 1248 Management LLC acquired a new position in Medtronic in the 1st quarter valued at $26,000. Burkett Financial Services LLC increased its holdings in shares of Medtronic by 185.0% in the 1st 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 in the last quarter. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic in the first quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in Medtronic during the first quarter worth about $29,000. Finally, Activest Wealth Management grew its position in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after buying an additional 322 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following 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 position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Medtronic Stock Performance

Medtronic stock opened at $94.34 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The stock has a fifty day moving average of $92.57 and a two-hundred day moving average of $88.40. The company has a market capitalization of $121.01 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.48 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.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share 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 the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MDT shares. Daiwa Capital Markets lifted their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Mizuho raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. UBS Group raised their price objective on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Citigroup raised their price objective on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.27.

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.

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