Truvestments Capital LLC Decreases Stock Holdings in Medtronic PLC $MDT

Key Points

• Truvestments Capital LLC significantly decreased its stake in Medtronic PLC, reducing its holdings by 57.5% to 14,110 shares, valued at approximately $1.27 million.
• Institutional investors now own over 82% of Medtronic's shares, with multiple firms such as Boston Partners and Ameriprise Financial increasing their positions during the first quarter.
• Medtronic recently announced a quarterly dividend of $0.71 per share, indicating a dividend yield of 3.1% and a payout ratio of 78.24% as per the latest findings.

Truvestments Capital LLC decreased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 57.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,110 shares of the medical technology company's stock after selling 19,123 shares during the quarter. Truvestments Capital LLC's holdings in Medtronic were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MDT. Boston Partners increased its position in Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock valued at $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. increased its position in Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the last quarter. Nuveen LLC bought a new position in Medtronic during the first quarter valued at $260,649,000. Finally, Burgundy Asset Management Ltd. bought a new position in Medtronic during the fourth quarter valued at $174,329,000. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MDT. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Mizuho boosted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Argus boosted 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. Finally, William Blair raised shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Insider Activity

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were acquired at an average price 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 approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Medtronic Stock Performance

MDT stock opened at $92.18 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The business has a 50-day moving average price of $89.93 and a 200 day moving average price of $88.03. The company has a market capitalization of $118.15 billion, a P/E ratio of 25.39, a PEG ratio of 2.34 and a beta of 0.80. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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 firm 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 14.56% and a net margin of 13.63%.The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio is presently 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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