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Medtronic PLC $MDT Stock Holdings Lowered by Greenwood Capital Associates LLC

Medtronic logo with Medical background

Key Points

  • Greenwood Capital Associates LLC reduced its holdings in Medtronic PLC by 24.8%, now owning 83,922 shares valued at approximately $7.31 million.
  • Medtronic's recent earnings report showed EPS of $1.26 for the quarter, surpassing estimates, with a revenue of $8.58 billion, reflecting a 7.7% year-over-year increase.
  • Medtronic announced a quarterly dividend of $0.71 per share, representing an annualized dividend yield of 3.0%, with the dividend payable on October 17th.
  • Five stocks to consider instead of Medtronic.

Greenwood Capital Associates LLC reduced its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,922 shares of the medical technology company's stock after selling 27,723 shares during the quarter. Medtronic accounts for 0.9% of Greenwood Capital Associates LLC's holdings, making the stock its 28th biggest position. Greenwood Capital Associates LLC's holdings in Medtronic were worth $7,315,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MDT. Boston Partners raised its holdings in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock valued at $619,460,000 after acquiring an additional 3,809,450 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after acquiring an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the period. Nuveen LLC acquired a new stake in shares of Medtronic during the first quarter valued at approximately $260,649,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Medtronic by 220.9% during the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock valued at $216,753,000 after acquiring an additional 1,660,357 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT opened at $95.57 on Friday. The company's 50 day moving average price is $92.85 and its 200 day moving average price is $88.46. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The company has a market capitalization of $122.59 billion, a PE ratio of 26.33, a PEG ratio of 2.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is currently 78.24%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MDT. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Wells Fargo & Company boosted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Mizuho boosted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $102.27.

Get Our Latest Report on Medtronic

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 directly owned 35,615 shares of the company's stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

About Medtronic

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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