Venture Visionary Partners LLC Decreases Position in Medtronic PLC $MDT

Key Points

• Venture Visionary Partners LLC reduced its stake in Medtronic PLC by 47.0%, selling 15,205 shares in the first quarter, leaving them with 17,149 shares valued at $1.54 million.
• Medtronic reported $1.26 earnings per share for the last quarter, exceeding analysts' estimates of $1.23, and had a revenue of $8.58 billion, a 7.7% increase year-over-year.
• The company announced a quarterly dividend of $0.71 per share, with the ex-dividend date set for September 26th, providing an annualized dividend yield of 3.2%.

Venture Visionary Partners LLC reduced its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 47.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,149 shares of the medical technology company's stock after selling 15,205 shares during the period. Venture Visionary Partners LLC's holdings in Medtronic were worth $1,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC grew its position in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the period. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic during the 4th quarter valued at approximately $27,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the 1st quarter valued at approximately $28,000. Optiver Holding B.V. bought a new position in Medtronic in the 4th quarter worth approximately $31,000. Finally, Hughes Financial Services LLC purchased a new position in Medtronic in the 1st quarter valued at approximately $32,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Morgan Stanley reiterated an "overweight" rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. William Blair upgraded shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Finally, Robert W. Baird lifted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $101.15.

Medtronic Price Performance

NYSE:MDT traded up $1.5210 during trading hours on Friday, hitting $92.6210. The stock had a trading volume of 4,870,626 shares, compared to its average volume of 7,618,189. The company has a 50 day simple moving average of $89.73 and a two-hundred day simple moving average of $88.03. 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 PLC has a one year low of $79.29 and a one year high of $96.25. The firm has a market capitalization of $118.72 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 2.31 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed 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 is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is 78.24%.

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.