Stonebrook Private Inc. Sells 16,877 Shares of Medtronic PLC $MDT

Key Points

• Stonebrook Private Inc. cut its Medtronic stake by 62.1% in the fourth quarter, selling 16,877 shares and leaving it with 10,310 shares valued at about $990,000.
• Medtronic reported better-than-expected quarterly results, with EPS of $1.55 and revenue of $9.81 billion, and it also raised its quarterly dividend to $0.72 per share.
• Wall Street remains cautiously positive on the stock, with a Moderate Buy consensus and an average price target of $99, despite some recent analyst downgrades and insider selling.

Stonebrook Private Inc. lessened its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,310 shares of the medical technology company's stock after selling 16,877 shares during the period. Stonebrook Private Inc.'s holdings in Medtronic were worth $990,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MDT. Brighton Jones LLC grew its holdings in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company's stock valued at $380,000 after acquiring an additional 381 shares during the period. Jump Financial LLC acquired a new position in shares of Medtronic in the second quarter valued at about $299,000. Main Street Financial Solutions LLC increased its position in Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company's stock worth $1,251,000 after acquiring an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC raised its stake in Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company's stock worth $1,676,000 after purchasing an additional 3,376 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 1.5%

Shares of NYSE MDT opened at $81.93 on Wednesday. The stock has a market cap of $105.19 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.96 and a beta of 0.58. The firm has a 50 day moving average price of $81.21 and a two-hundred day moving average price of $91.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. Medtronic's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is currently 76.14%.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company's stock.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Healthcare is outperforming as investors rotate away from tech, which supports Medtronic as a defensive name in a stronger sector. As Tech Stocks Slide, The Healthcare Sector Shines. Why Some Experts Say They Like This Defensive Play
• Positive Sentiment: Medtronic won FDA clearance for its updated Nellcor pulse oximetry system, a technology update aimed at improving reliability across diverse patients and care settings. Medtronic gets FDA nod for updated pulse oximetry system
• Positive Sentiment: The company earned CE mark approval for its Stealth AXiS robot platform in ENT surgery, opening the door to broader use in Europe. Medtronic earns CE mark for Stealth AXiS robot platform in ENT surgery
• Positive Sentiment: Medtronic also received FDA clearance for an upgraded Nellcor pulse oximetry system with an intelligent processor, reinforcing momentum in its monitoring portfolio. Medtronic wins FDA clearance for Nellcor pulse oximetry system with intelligent processor
• Positive Sentiment: Analyst commentary has been increasingly constructive, with some writers arguing Medtronic may be one of the better buys in healthcare after its recent results showed solid growth. Why Medtronic Stock May Have Just Become the Best Buy in the Entire Healthcare Sector
• Neutral Sentiment: Medtronic’s EVP Harry Skip Kiil sold 4,189 shares, a routine insider transaction that may modestly weigh on sentiment but does not by itself signal a major change in outlook. Harry Skip Kiil insider transaction
• Neutral Sentiment: MarketWatch noted the stock underperformed some peers despite gains, suggesting investors are still comparing Medtronic’s move against stronger healthcare competitors. Medtronic PLC stock underperforms Tuesday when compared to competitors despite daily gains

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MDT shares. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. The Goldman Sachs Group decreased their price target on Medtronic from $84.00 to $83.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Piper Sandler reduced their price objective on Medtronic from $91.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. TD Cowen reissued a "buy" rating and set a $119.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.00.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.