Stack Financial Management Inc Sells 2,987 Shares of Medtronic PLC $MDT

Key Points

• Stack Financial Management Inc reduced its stake in Medtronic PLC by 1.6%, selling 2,987 shares during the 2nd quarter, leaving them with 178,053 shares valued at approximately $15.5 million.
• In insider activity, EVP Harry Skip Kiil sold 8,605 shares for about $788,046, reducing his stake by 19.46%, while Director William R. Jellison bought 2,500 shares at a total of $230,925, increasing his position by 100%.
• Medtronic recently announced a $0.71 quarterly dividend payable on October 17th, with a current yield of 3.0% and a payout ratio of 78.24%.

Stack Financial Management Inc lowered its position in Medtronic PLC (NYSE:MDT - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 178,053 shares of the medical technology company's stock after selling 2,987 shares during the quarter. Stack Financial Management Inc's holdings in Medtronic were worth $15,521,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in Medtronic in the first quarter valued at $26,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the first quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in shares of Medtronic during the first quarter worth about $29,000. Activest Wealth Management boosted its holdings in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after purchasing an additional 322 shares during the period. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic during the first quarter worth about $32,000. Institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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, for a total transaction 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. Company insiders own 0.26% of the company's stock.

Medtronic Price Performance

Shares of MDT opened at $95.52 on Monday. The company has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $93.56 and a 200 day moving average of $88.74. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37.

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

Medtronic Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MDT shares. The Goldman Sachs Group decreased their price target on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research note on Wednesday, October 1st. UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, Argus raised their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and a consensus price target of $102.41.

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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