Stephens Inc. AR Trims Holdings in Medtronic PLC $MDT

Key Points

• Stephens Inc. AR has reduced its stake in Medtronic PLC by 8.6% in the second quarter, selling 24,624 shares and now holding a total of 260,761 shares valued at approximately $22.73 million.
• Medtronic recently reported earnings of $1.26 per share, exceeding analysts' expectations, with revenue of $8.58 billion for the quarter, reflecting a year-over-year increase of 7.7%.
• The company also declared a quarterly dividend of $0.71 per share, which represents an annualized yield of 3.0%, and has a current dividend payout ratio of 78.24%.

Stephens Inc. AR reduced its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,761 shares of the medical technology company's stock after selling 24,624 shares during the quarter. Stephens Inc. AR's holdings in Medtronic were worth $22,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Crux Wealth Advisors grew its holdings in Medtronic by 5.5% during the 2nd quarter. Crux Wealth Advisors now owns 15,058 shares of the medical technology company's stock valued at $1,313,000 after buying an additional 791 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Medtronic by 17.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 8,194 shares of the medical technology company's stock valued at $754,000 after buying an additional 1,224 shares in the last quarter. First Bancorp Inc ME purchased a new stake in Medtronic during the 2nd quarter valued at approximately $207,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Medtronic during the 2nd quarter valued at approximately $10,286,000. Finally, Quotient Wealth Partners LLC grew its holdings in Medtronic by 2.8% during the 2nd quarter. Quotient Wealth Partners LLC now owns 8,533 shares of the medical technology company's stock valued at $744,000 after buying an additional 236 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.6%

Shares of MDT opened at $95.62 on Monday. The company has a market cap of $122.65 billion, a PE ratio of 26.34, a P/E/G ratio of 2.52 and a beta of 0.78. The business has a fifty day moving average of $94.07 and a 200 day moving average of $88.99. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. 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 (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, topping analysts' consensus estimates 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 return on equity of 14.61% and a net margin of 13.63%.Medtronic's revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the 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 completion of the transaction, the director owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a "hold" rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Medtronic in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated an "outperform" rating and set a $111.00 target price on shares of Medtronic in a research report on Friday, October 10th. Stifel Nicolaus increased their target price on Medtronic from $90.00 to $105.00 and gave the company a "hold" rating in a research report on Thursday, October 9th. Finally, The Goldman Sachs Group lowered their target price on Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $102.82.

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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