Moloney Securities Asset Management LLC Sells 5,401 Shares of Medtronic PLC $MDT

Key Points

• Moloney Securities Asset Management LLC reduced its stake in Medtronic PLC by 12.3%, selling 5,401 shares, and now holds 38,609 shares worth approximately $3.37 million.
• Medtronic reported an earnings per share (EPS) of $1.26 for the last quarter, exceeding analyst expectations by $0.03, with a revenue of $8.58 billion, which is a 7.7% increase year-over-year.
• The company declared a quarterly dividend of $0.71 per share, with an annualized dividend of $2.84 and a yield of 3.0%.

Moloney Securities Asset Management LLC lessened its stake in Medtronic PLC (NYSE:MDT - Free Report) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,609 shares of the medical technology company's stock after selling 5,401 shares during the period. Moloney Securities Asset Management LLC's holdings in Medtronic were worth $3,366,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Bank of New York Mellon Corp grew its holdings in Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG grew its holdings in Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company's stock worth $1,708,220,000 after acquiring an additional 566,155 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company's stock valued at $1,525,876,000 after buying an additional 1,535,308 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $94.25 on Friday. The company has a fifty day moving average price of $94.31 and a 200 day moving average price of $89.25. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The firm has a market cap of $120.89 billion, a PE ratio of 25.96, a PEG ratio of 2.53 and a beta of 0.78.

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

Medtronic Dividend Announcement

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

Insider Activity

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at $461,850. This represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This trade 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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDT. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Evercore ISI boosted their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. 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. UBS Group boosted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus upped their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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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