UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 129,418 Shares of Medtronic PLC $MDT

Key Points

• UBS AM reduced its stake in Medtronic PLC by 1.5%, selling 129,418 shares, leaving it with approximately 8.78 million shares valued at $789 million.
• In the latest quarter, Medtronic reported $1.26 earnings per share, beating estimates, with a revenue of $8.58 billion, reflecting a significant year-over-year growth.
• Medtronic recently announced a quarterly dividend of $0.71 per share, with a payout ratio of 78.24% and a dividend yield of 3.1% for investors.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,780,743 shares of the medical technology company's stock after selling 129,418 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.68% of Medtronic worth $789,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Medtronic by 16.8% in the 4th quarter. CoreCap Advisors LLC now owns 2,244 shares of the medical technology company's stock worth $179,000 after purchasing an additional 322 shares during the period. Focus Partners Wealth lifted its stake in shares of Medtronic by 100.2% in the 4th quarter. Focus Partners Wealth now owns 199,003 shares of the medical technology company's stock worth $16,345,000 after purchasing an additional 99,587 shares during the period. Graham Capital Management L.P. bought a new position in shares of Medtronic in the 4th quarter worth approximately $1,322,000. Finally, Guardian Wealth Advisors LLC NC raised its stake in Medtronic by 15.5% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 3,371 shares of the medical technology company's stock worth $269,000 after acquiring an additional 453 shares during the period. Institutional investors own 82.06% of the company's stock.

Insider Transactions at Medtronic

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. Also, EVP Harry Skip Kiil sold 8,605 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was 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 $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Leerink Partners assumed coverage on shares of Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.14.

Medtronic Stock Performance

MDT stock opened at $92.91 on Tuesday. The business has a 50-day moving average price of $91.09 and a 200 day moving average price of $88.16. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market capitalization of $119.17 billion, a P/E ratio of 25.59, a PEG ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. 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 paid a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's payout ratio is presently 78.24%.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.