Dorsey & Whitney Trust CO LLC Sells 40,287 Shares of Medtronic PLC $MDT

Key Points

• Dorsey & Whitney Trust CO LLC reduced its Medtronic shares by 44%, holding 51,286 shares worth $4.6 million after selling 40,287 shares.
• Medtronic reported a quarterly EPS of $1.26, surpassing analyst estimates, with a 7.7% increase in revenue year-over-year to $8.58 billion.
• The company announced a quarterly dividend of $0.71 per share, translating to an annual dividend yield of 3.2%.

Dorsey & Whitney Trust CO LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 44.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 51,286 shares of the medical technology company's stock after selling 40,287 shares during the period. Dorsey & Whitney Trust CO LLC's holdings in Medtronic were worth $4,609,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Aspire Growth Partners LLC acquired a new stake in Medtronic in the 1st quarter valued at about $554,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Medtronic during the 1st quarter worth approximately $286,000. GDS Wealth Management acquired a new position in Medtronic during the first quarter valued at approximately $221,000. Capital Analysts LLC grew its holdings in Medtronic by 7.8% during the first quarter. Capital Analysts LLC now owns 130,732 shares of the medical technology company's stock valued at $11,748,000 after purchasing an additional 9,432 shares during the period. Finally, Level Four Advisory Services LLC lifted its stake in Medtronic by 1.1% in the first quarter. Level Four Advisory Services LLC now owns 41,452 shares of the medical technology company's stock valued at $3,725,000 after buying an additional 470 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 1.7%

Medtronic stock traded up $1.5210 during mid-day trading on Friday, hitting $92.6210. 4,870,626 shares of the stock were exchanged, compared to its average volume of 7,618,189. The firm's fifty day simple moving average is $89.73 and its two-hundred day simple moving average is $88.03. The stock has a market capitalization of $118.72 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 2.31 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. The company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the business posted $1.23 EPS. Medtronic's revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared 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 of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDT. UBS Group lifted their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday. Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday. Royal Bank Of Canada lowered their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.15.

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.