Medtronic PLC $MDT Shares Sold by Naples Global Advisors LLC

Key Points

• Naples Global Advisors LLC decreased its holdings in Medtronic PLC by 8.0%, owning 58,327 shares worth about $5.12 million after selling 5,042 shares in the second quarter.
• Medtronic's recent quarterly earnings beat analysts' expectations, reporting $1.26 EPS on revenue of $8.58 billion, resulting in a 7.7% year-over-year increase.
• The company declared a quarterly dividend of $0.71, offering a 3.0% dividend yield, with the ex-dividend date set for September 26th.

Naples Global Advisors LLC reduced its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,327 shares of the medical technology company's stock after selling 5,042 shares during the period. Naples Global Advisors LLC's holdings in Medtronic were worth $5,124,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC increased its stake in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after buying an additional 185 shares during the period. 1248 Management LLC purchased a new stake in Medtronic during the 1st quarter worth approximately $26,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the 1st quarter worth approximately $28,000. Twin Tree Management LP purchased a new stake in Medtronic during the 1st quarter worth approximately $29,000. Finally, Activest Wealth Management increased its stake in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after buying an additional 322 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on MDT. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. William Blair raised shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. UBS Group increased their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Finally, BTIG Research reissued a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.27.

Medtronic Trading Down 0.4%

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's fifty day moving average price is $92.78 and its 200 day moving average price is $88.45. The company has a market capitalization of $121.66 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. 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 posted its earnings results 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. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company's revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is 78.24%.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

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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