Medtronic PLC $MDT Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. cut its Medtronic stake by 80.4% in the fourth quarter, selling 474,700 shares and leaving it with 115,493 shares valued at about $11.1 million.
• Medtronic reported better-than-expected quarterly earnings, posting $1.55 EPS on revenue of $9.81 billion, with revenue up 9.9% year over year. The company also raised its full-year guidance for FY 2027 to 5.900-6.000 EPS.
• The company increased its quarterly dividend to $0.72 per share from $0.71, implying an annualized yield of 3.6%. Analyst sentiment remains mixed but overall constructive, with a consensus rating of Moderate Buy and a $99 price target.

Pacer Advisors Inc. decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 80.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,493 shares of the medical technology company's stock after selling 474,700 shares during the period. Pacer Advisors Inc.'s holdings in Medtronic were worth $11,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Monetary Solutions Ltd purchased a new position in Medtronic in the fourth quarter worth approximately $27,000. Lodestone Wealth Management LLC acquired a new stake in Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC raised its position in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 230 shares during the period. Board of the Pension Protection Fund purchased a new stake in Medtronic in the fourth quarter valued at $29,000. Finally, GoalVest Advisory LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock opened at $79.37 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The stock has a market capitalization of $101.90 billion, a PE ratio of 21.28, a P/E/G ratio of 2.13 and a beta of 0.58. The firm has a 50 day moving average of $80.13 and a two-hundred day moving average of $90.41.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The company's quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is presently 76.14%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MDT shares. Barclays increased their price target on Medtronic from $118.00 to $120.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Stifel Nicolaus set a $80.00 target price on shares of Medtronic in a research note on Wednesday, June 3rd. TD Cowen reiterated a "buy" rating and set a $119.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Finally, Piper Sandler reissued a "neutral" rating and issued a $85.00 price target on shares of Medtronic in a research note on Tuesday, June 16th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

Medtronic Company Profile

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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