Medtronic PLC $MDT Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC decreased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 602,965 shares of the medical technology company's stock after selling 67,872 shares during the quarter. Calamos Advisors LLC's holdings in Medtronic were worth $52,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Lodestone Wealth Management LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $27,000. Anfield Capital Management LLC lifted its stake in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after buying an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new position in shares of Medtronic during the 4th quarter worth approximately $27,000. Board of the Pension Protection Fund purchased a new stake in Medtronic in the 4th quarter valued at $29,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

MDT has been the subject of several analyst reports. TD Cowen lowered their price objective on Medtronic from $119.00 to $100.00 and set a "buy" rating for the company in a research report on Friday. Piper Sandler restated a "neutral" rating and issued a $85.00 price objective on shares of Medtronic in a report on Tuesday, June 16th. JPMorgan Chase & Co. cut their price target on Medtronic from $100.00 to $86.00 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on shares of Medtronic in a research report on Wednesday, June 3rd. Finally, Wells Fargo & Company dropped their price objective on Medtronic from $114.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $98.21.

Medtronic Stock Down 0.3%

MDT opened at $83.58 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $79.16 and a two-hundred day moving average price of $88.36. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a market cap of $106.98 billion, a PE ratio of 22.41, a P/E/G ratio of 2.25 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic's quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic's dividend payout ratio (DPR) is presently 77.21%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company's stock.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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