Medtronic PLC $MDT Shares Sold by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services cut its Medtronic position by 26% in the second quarter, selling 29,769 shares and retaining 84,879 shares valued at approximately $6.64 million. Institutional investors collectively own 82.06% of MDT.
• Analyst sentiment remains positive overall, with Medtronic holding a consensus “Moderate Buy” rating and an average price target of $98.83. UBS upgraded the stock to “Buy” with a $100 target, while several firms lowered their targets.
• Medtronic exceeded quarterly earnings and revenue estimates, reporting $1.55 in EPS and $9.81 billion in revenue, with revenue up 9.9% year over year. The company also raised its quarterly dividend to $0.72 per share, implying a 3.2% yield.

Kestra Private Wealth Services LLC decreased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 26.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,879 shares of the medical technology company's stock after selling 29,769 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Medtronic were worth $6,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MDT. Monetary Solutions Ltd purchased a new position in Medtronic in the 4th quarter valued at approximately $27,000. Anfield Capital Management LLC boosted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Acumen Wealth Advisors LLC acquired a new stake in Medtronic in the fourth quarter valued at $29,000. Imprint Wealth LLC acquired a new stake in Medtronic in the third quarter valued at $31,000. Finally, Basepoint Wealth LLC acquired a new stake in Medtronic in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MDT shares. Robert W. Baird cut their price target on Medtronic from $93.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. UBS Group upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the company from $85.00 to $100.00 in a report on Tuesday, July 28th. TD Cowen cut their target price on shares of Medtronic from $119.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Finally, The Goldman Sachs Group reduced their price target on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and an average price target of $98.83.

Medtronic Stock Performance

NYSE MDT opened at $90.69 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The business has a fifty day moving average of $83.01 and a 200-day moving average of $86.33. The stock has a market cap of $116.09 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.55.

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

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. This is an increase from Medtronic's previous quarterly dividend of $0.71. Medtronic's dividend payout ratio is 77.21%.

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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