Meiji Yasuda Asset Management Co Ltd. Sells 25,757 Shares of Medtronic PLC $MDT

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Medtronic PLC by 15.1%, selling 25,757 shares and holding a total of 144,897 shares valued at approximately $13 million.
• Institutional ownership of Medtronic stands at 82.06%, with various firms like Burkett Financial Services and Columbia River Financial Group recently increasing their stakes.
• Analysts have upgraded Medtronic, with Argus raising the price target from $105 to $115, and the stock currently holds an average rating of "Moderate Buy" with a price target of $102.14.

Meiji Yasuda Asset Management Co Ltd. cut its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 15.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,897 shares of the medical technology company's stock after selling 25,757 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Medtronic were worth $13,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MDT. Burkett Financial Services LLC grew its position in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the period. 1248 Management LLC bought a new stake in Medtronic in the first quarter valued at $26,000. Wood Tarver Financial Group LLC bought a new stake in Medtronic in the fourth quarter valued at $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic in the first quarter valued at $28,000. Finally, Twin Tree Management LP bought a new stake in Medtronic in the first quarter valued at $29,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MDT shares. Argus upped their price target on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Citigroup upped their price target on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Robert W. Baird boosted their price objective on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, UBS Group boosted their price objective on Medtronic from $94.00 to $95.00 and gave the stock 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 assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Trading Up 0.1%

Shares of MDT opened at $92.93 on Monday. 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 PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The firm has a market capitalization of $119.20 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The stock's fifty day simple moving average is $90.97 and its 200-day simple moving average is $88.14.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The firm'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. As a group, 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. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio is currently 78.24%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company's stock, valued at $461,850. The trade was 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.

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.

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