Medtronic PLC $MDT Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa reduced its holdings in Medtronic by 69.6% in the second quarter, owning 52,626 shares valued at approximately $4.58 million after selling 120,640 shares.
• Medtronic reported $1.26 earnings per share for the last quarter, exceeding analysts' expectations of $1.23, with revenues of $8.58 billion—a 7.7% year-over-year increase.
• The company also declared a quarterly dividend of $0.71 per share, equating to an annual yield of 3.0%, with a payout ratio of 78.24%.

Lbp Am Sa lessened its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 69.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,626 shares of the medical technology company's stock after selling 120,640 shares during the quarter. Lbp Am Sa's holdings in Medtronic were worth $4,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Fiduciary Alliance LLC boosted its position in shares of Medtronic by 2.9% during the 1st quarter. Fiduciary Alliance LLC now owns 6,053 shares of the medical technology company's stock valued at $544,000 after acquiring an additional 169 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Medtronic by 78.2% during the 1st quarter. Merit Financial Group LLC now owns 41,474 shares of the medical technology company's stock valued at $3,727,000 after acquiring an additional 18,204 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Medtronic by 34.2% during the 1st quarter. Fulton Bank N.A. now owns 10,800 shares of the medical technology company's stock valued at $970,000 after acquiring an additional 2,755 shares during the last quarter. Finally, RFG Advisory LLC boosted its position in shares of Medtronic by 6.1% during the 1st quarter. RFG Advisory LLC now owns 25,974 shares of the medical technology company's stock valued at $2,334,000 after acquiring an additional 1,482 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Down 0.4%

Shares of NYSE:MDT opened at $94.85 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The firm has a market capitalization of $121.66 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The firm's 50-day moving average is $92.78 and its two-hundred day moving average is $88.45. 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 issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts predict 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. Shareholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio is 78.24%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDT. Daiwa Capital Markets boosted 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. UBS Group boosted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Citigroup boosted their price objective on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, August 21st. BTIG Research restated a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Finally, Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.27.

Medtronic Company Profile

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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