MetLife Investment Management LLC Sells 6,393 Shares of Medtronic PLC $MDT

Key Points

• MetLife Investment Management LLC reduced its stake in Medtronic PLC by 1.9%, now holding 333,079 shares valued at approximately $29.93 million after selling 6,393 shares in the first quarter.
• Medtronic reported $1.26 earnings per share for the last quarter, surpassing analysts' expectations, and its revenue grew by 7.7% year-over-year, reaching $8.58 billion.
• The company announced a quarterly dividend of $0.71 per share, with a yield of 3.1%, to be paid on October 17th to stockholders of record by September 26th.

MetLife Investment Management LLC decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,079 shares of the medical technology company's stock after selling 6,393 shares during the quarter. MetLife Investment Management LLC's holdings in Medtronic were worth $29,930,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. Burkett Financial Services LLC raised its position in shares of 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 purchasing an additional 185 shares during the period. Wood Tarver Financial Group LLC bought a new position in Medtronic during the fourth quarter worth $27,000. Columbia River Financial Group LLC bought a new position in Medtronic during the first quarter worth $28,000. Optiver Holding B.V. bought a new position in Medtronic during the fourth quarter worth $31,000. Finally, Hughes Financial Services LLC bought a new position in Medtronic during the first quarter worth $32,000. Institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company's stock.

Medtronic Stock Performance

MDT traded down $0.08 during trading on Thursday, reaching $91.97. 5,615,600 shares of the company's stock were exchanged, compared to its average volume of 7,679,693. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $90.06 and a 200 day moving average price of $88.06. The company has a market capitalization of $117.98 billion, a P/E ratio of 25.34, a PEG ratio of 2.34 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company earned $1.23 earnings per share. The business's revenue 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, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MDT shares. Morgan Stanley reaffirmed an "overweight" rating and set a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Leerink Partners started coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Mizuho boosted their target price 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. Finally, Citigroup boosted their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and an average price target of $102.14.

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.