Medtronic PLC $MDT Holdings Decreased by SVB Wealth LLC

Key Points

• SVB Wealth LLC reduced its holdings in Medtronic PLC by 37.4%, selling 46,010 shares, with remaining holdings valued at approximately $6.94 million.
• Medtronic reported quarterly earnings of $1.26 EPS, exceeding estimates by $0.03, along with revenue of $8.58 billion, up 7.7% year-over-year.
• The company announced a quarterly dividend of $0.71 per share, reflecting an annualized yield of 3.1%, with a payout ratio of 78.24%.

SVB Wealth LLC cut its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 37.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,173 shares of the medical technology company's stock after selling 46,010 shares during the period. SVB Wealth LLC's holdings in Medtronic were worth $6,935,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MDT. Brighton Jones LLC grew its holdings in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Medtronic by 1.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,041,286 shares of the medical technology company's stock worth $562,460,000 after buying an additional 105,263 shares during the last quarter. MGO One Seven LLC lifted its position in shares of Medtronic by 2.1% during the 4th quarter. MGO One Seven LLC now owns 22,219 shares of the medical technology company's stock worth $1,775,000 after buying an additional 449 shares during the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of Medtronic by 13.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 2,095 shares of the medical technology company's stock worth $167,000 after buying an additional 248 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Medtronic by 15.1% during the 4th quarter. Voya Investment Management LLC now owns 746,774 shares of the medical technology company's stock worth $59,652,000 after buying an additional 97,778 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

Medtronic Stock Performance

MDT traded down $0.69 during trading hours on Monday, hitting $92.02. 4,763,821 shares of the stock were exchanged, compared to its average volume of 7,593,159. The stock has a 50-day simple moving average of $89.81 and a 200-day simple moving average of $88.00. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The stock has a market cap of $117.95 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.35 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio (DPR) is presently 78.24%.

Wall Street Analyst Weigh In

MDT has been the topic of several research reports. Sanford C. Bernstein raised their price objective on shares of Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Truist Financial increased their price objective on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a research note on Thursday. Evercore ISI increased their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada reduced their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $101.15.

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.