Medtronic PLC $MDT Shares Sold by Leo Wealth LLC

Key Points

• Leo Wealth LLC significantly reduced its stake in Medtronic PLC by 74.3%, owning 5,342 shares after selling 15,406 shares during the 2nd quarter, reflecting a value of $466,000.
• Despite Leo Wealth's reduction, several other institutional investors, such as Boston Partners and Ameriprise Financial Inc., increased their holdings, indicating a trend of institutional support for Medtronic.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding analyst expectations, and also announced a $0.71 quarterly dividend to be paid on October 17th, reflecting a dividend yield of 2.9%.

Leo Wealth LLC decreased its stake in Medtronic PLC (NYSE:MDT - Free Report) by 74.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,342 shares of the medical technology company's stock after selling 15,406 shares during the quarter. Leo Wealth LLC's holdings in Medtronic were worth $466,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Boston Partners boosted its holdings in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after buying an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock worth $903,915,000 after acquiring an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Medtronic in the first quarter worth approximately $260,649,000. Finally, Mackenzie Financial Corp boosted its stake in Medtronic by 220.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE:MDT opened at $96.42 on Friday. 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 $123.68 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.58 and a beta of 0.78. The company's 50-day moving average is $93.44 and its two-hundred day moving average is $88.69. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The firm's quarterly revenue was up 7.7% on a year-over-year basis. 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. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is 78.24%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $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 SEC, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

MDT has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Sanford C. Bernstein boosted their target price on Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Weiss Ratings restated a "buy (b-)" rating on shares of Medtronic in a report on Wednesday. Finally, Daiwa Capital Markets boosted their target price on Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.82.

Medtronic 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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