Medtronic PLC $MDT Stock Holdings Trimmed by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC reduced its stake in Medtronic PLC by 18.3%, holding 13,846 shares valued at $1.2 million after selling 3,101 shares.
• Medtronic reported a $1.26 EPS for the recent quarter, exceeding the anticipated $1.23, alongside a revenue increase of 7.7% year-over-year.
• The company announced a quarterly dividend of $0.71 per share, with a 3.0% yield and a payout ratio of 78.24%.

Ballentine Partners LLC lessened its position in Medtronic PLC (NYSE:MDT - Free Report) by 18.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,846 shares of the medical technology company's stock after selling 3,101 shares during the quarter. Ballentine Partners LLC's holdings in Medtronic were worth $1,207,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Burkett Financial Services LLC raised its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the period. 1248 Management LLC bought a new stake in shares of Medtronic in the first quarter valued at about $26,000. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic during the fourth quarter worth about $27,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the first quarter worth about $28,000. Finally, Twin Tree Management LP acquired a new stake in Medtronic in the 1st quarter valued at approximately $29,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of MDT opened at $94.26 on Friday. The stock has a 50-day moving average of $92.48 and a 200-day moving average of $88.39. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market cap of $120.91 billion, a PE ratio of 25.97, a P/E/G ratio of 2.52 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MDT shares. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Mizuho lifted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $102.27.

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.

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