Medtronic PLC $MDT Stake Lowered by Beech Hill Advisors Inc.

Key Points

• Beech Hill Advisors Inc. has reduced its stake in Medtronic PLC by 21.8% during the second quarter, now holding 37,382 shares valued at approximately $3.26 million.
• In recent transactions, Director William R. Jellison increased his ownership by purchasing 2,500 shares, while EVP Harry Skip Kiil sold 8,605 shares, indicating significant insider activity.
• Medtronic's latest earnings report showed a beat on expectations with a reported $1.26 EPS and revenues of $8.58 billion, reflecting a 7.7% year-over-year increase.

Beech Hill Advisors Inc. lowered its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 21.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,382 shares of the medical technology company's stock after selling 10,418 shares during the period. Medtronic accounts for 1.5% of Beech Hill Advisors Inc.'s portfolio, making the stock its 25th biggest holding. Beech Hill Advisors Inc.'s holdings in Medtronic were worth $3,259,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Red Spruce Capital LLC grew its position in Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock valued at $2,067,000 after buying an additional 118 shares in the last quarter. Certior Financial Group LLC grew its holdings in Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after acquiring an additional 122 shares during the period. Cidel Asset Management Inc. raised its position in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after acquiring an additional 126 shares in the last quarter. Petros Family Wealth LLC lifted its holdings in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after acquiring an additional 127 shares during the last quarter. Finally, PrairieView Partners LLC boosted its position in shares of Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company's stock valued at $324,000 after purchasing an additional 128 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was purchased 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 $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 SEC, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction on 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 transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Performance

MDT stock opened at $95.97 on Tuesday. The firm has a 50 day moving average of $94.13 and a two-hundred day moving average of $89.08. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The company has a market capitalization of $123.10 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 2.52 and a beta of 0.78. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The business 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%. Medtronic's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic's dividend payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MDT. William Blair upgraded shares of Medtronic to a "hold" rating in a report on Friday, July 11th. Wells Fargo & Company upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Truist Financial lifted their price objective on shares of Medtronic from $96.00 to $103.00 and gave the stock a "hold" rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley restated an "overweight" rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average price target of $102.82.

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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