Nan Shan Life Insurance Co. Ltd. Trims Position in Medtronic PLC $MDT

Key Points

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Nan Shan Life Insurance Co. Ltd. lessened its position in Medtronic PLC (NYSE:MDT - Free Report) by 97.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,291 shares of the medical technology company's stock after selling 345,707 shares during the period. Nan Shan Life Insurance Co. Ltd.'s holdings in Medtronic were worth $835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Vanguard Group Inc. raised its holdings in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock valued at $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock valued at $2,001,903,000 after purchasing an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Medtronic by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock valued at $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Medtronic by 3.1% during the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock valued at $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock valued at $1,525,876,000 after purchasing an additional 1,535,308 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

MDT stock traded up $1.5210 during midday trading on Friday, reaching $92.6210. 4,870,626 shares of the company's stock traded hands, compared to its average volume of 7,618,189. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The stock has a market cap of $118.72 billion, a P/E ratio of 25.52, a PEG ratio of 2.31 and a beta of 0.80. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The stock's 50-day moving average is $89.73 and its 200 day moving average is $88.03.

Medtronic (NYSE:MDT - Get Free Report) last announced 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 business had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. The firm's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio is 78.24%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Mizuho boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Morgan Stanley reissued an "overweight" rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, William Blair raised shares of Medtronic to a "hold" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $101.15.

Medtronic Company 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.