Voya Investment Management LLC Has $65.69 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Voya Investment Management LLC reduced its stake in Medtronic PLC by 2.1%, selling 15,738 shares to end the first quarter with 731,036 shares valued at approximately $65.7 million.
• Medtronic reported $1.26 EPS for the latest quarter, exceeding expectations by $0.03, and generated $8.58 billion in revenue, marking a 7.7% year-over-year increase.
• The company plans to pay a quarterly dividend of $0.71 per share on October 17th, with a current dividend yield of 3.0%.

Voya Investment Management LLC reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 731,036 shares of the medical technology company's stock after selling 15,738 shares during the period. Voya Investment Management LLC owned about 0.06% of Medtronic worth $65,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Brighton Jones LLC grew its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in Medtronic during the fourth quarter valued at approximately $756,000. Rafferty Asset Management LLC grew its position in Medtronic by 11.8% during the fourth quarter. Rafferty Asset Management LLC now owns 145,445 shares of the medical technology company's stock valued at $11,618,000 after purchasing an additional 15,357 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Medtronic during the fourth quarter valued at approximately $1,003,000. Finally, Snowden Capital Advisors LLC grew its position in Medtronic by 3.3% during the fourth quarter. Snowden Capital Advisors LLC now owns 43,579 shares of the medical technology company's stock valued at $3,512,000 after purchasing an additional 1,374 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of analyst reports. Argus lifted their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. UBS Group lifted their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Mizuho lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Price Performance

Shares of MDT stock traded down $0.56 during mid-day trading on Monday, reaching $93.48. The company's stock had a trading volume of 5,715,769 shares, compared to its average volume of 6,922,758. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a market cap of $119.90 billion, a P/E ratio of 25.75, a PEG ratio of 2.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm's 50-day moving average is $91.61 and its two-hundred day moving average is $88.26.

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

Medtronic Announces Dividend

The business 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 dividend of $0.71 per share. The ex-dividend date of this dividend 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 currently 78.24%.

Insider Transactions at Medtronic

In other Medtronic news, 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

About Medtronic

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.