Rehmann Capital Advisory Group Sells 2,649 Shares of Medtronic PLC $MDT

Key Points

• Rehmann Capital Advisory Group reduced its holdings in Medtronic PLC by 21.4%, selling 2,649 shares during the second quarter, resulting in ownership of 9,744 shares worth approximately $849,000.
• Several hedge funds have adjusted their positions in Medtronic, with Brookstone Capital Management increasing its stake by 12.4% to own 22,772 shares valued at $1,985,000.
• Medtronic reported earnings of $1.26 per share for the last quarter, surpassing analysts' estimates, with a 7.7% increase in revenue compared to the previous year.

Rehmann Capital Advisory Group cut its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 21.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,744 shares of the medical technology company's stock after selling 2,649 shares during the period. Rehmann Capital Advisory Group's holdings in Medtronic were worth $849,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MDT. Dudley Capital Management LLC increased its position in shares of Medtronic by 1.9% in the second quarter. Dudley Capital Management LLC now owns 10,131 shares of the medical technology company's stock valued at $883,000 after acquiring an additional 189 shares during the period. Brookstone Capital Management boosted its position in Medtronic by 12.4% during the 2nd quarter. Brookstone Capital Management now owns 22,772 shares of the medical technology company's stock valued at $1,985,000 after acquiring an additional 2,509 shares in the last quarter. Jacobsen Capital Management bought a new stake in Medtronic during the 2nd quarter valued at approximately $200,000. FNY Investment Advisers LLC bought a new stake in Medtronic during the 2nd quarter valued at approximately $374,000. Finally, Studio Investment Management LLC boosted its position in Medtronic by 11.1% during the 2nd quarter. Studio Investment Management LLC now owns 12,610 shares of the medical technology company's stock valued at $1,108,000 after acquiring an additional 1,263 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Medtronic

In other news, Director William R. Jellison bought 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 owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MDT. BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Mizuho lifted their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. Finally, Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Medtronic Stock Performance

MDT stock opened at $95.84 on Thursday. The stock has a market capitalization of $122.93 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock's 50 day simple moving average is $94.26 and its 200 day simple moving average is $89.17.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

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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