Medtronic PLC $MDT Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Medtronic PLC by 81.7% in Q2, leaving them with 134,433 shares valued at approximately $11.7 million.
• Medtronic reported a quarterly earnings per share (EPS) of $1.26, exceeding analysts' expectations of $1.23, with revenue of $8.58 billion, marking a 7.7% increase year-over-year.
• The company announced a quarterly dividend of $0.71 per share, reflecting an annualized yield of 2.9%, with a payout ratio of 78.24%.

Robeco Institutional Asset Management B.V. cut its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 81.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 134,433 shares of the medical technology company's stock after selling 600,618 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Medtronic were worth $11,719,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. 1248 Management LLC purchased a new position in shares of Medtronic during the 1st quarter valued at about $26,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic in the first quarter worth about $28,000. Twin Tree Management LP acquired a new stake in Medtronic during the first quarter worth about $29,000. Activest Wealth Management raised its position in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after acquiring an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in Medtronic in the first quarter valued at approximately $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 2.3%

MDT stock opened at $97.63 on Monday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $97.94. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $92.94 and a 200-day simple moving average of $88.46. The stock has a market capitalization of $125.23 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same period in the previous year, the firm posted $1.23 EPS. Medtronic's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDT. Citigroup raised their price objective on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Robert W. Baird lifted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research report on Wednesday, October 1st. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Finally, Morgan Stanley restated an "overweight" rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and an average target price of $100.94.

Insider Buying and Selling at Medtronic

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