Yousif Capital Management LLC Lowers Stake in Medtronic PLC $MDT

Key Points

• Yousif Capital Management LLC reduced its stake in Medtronic PLC by 2.4%, owning 286,003 shares valued at approximately $24.93 million after selling 6,892 shares in the second quarter.
• Several large investors, including Red Spruce Capital LLC and Certior Financial Group LLC, have made adjustments to their stakes in Medtronic, reflecting a shift in institutional interest.
• Medtronic recently announced a quarterly dividend of $0.71 per share, representing an annualized dividend of $2.84 and a yield of 3.0%, with the payment date set for October 17th.

Yousif Capital Management LLC lowered its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 286,003 shares of the medical technology company's stock after selling 6,892 shares during the quarter. Yousif Capital Management LLC's holdings in Medtronic were worth $24,931,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MDT. Red Spruce Capital LLC raised its stake in Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock valued at $2,067,000 after purchasing an additional 118 shares in the last quarter. Certior Financial Group LLC raised its stake in Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC raised its stake in Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after purchasing an additional 124 shares in the last quarter. Cidel Asset Management Inc. raised its stake in Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC raised its stake in Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating on the stock in a research note on Wednesday, October 1st. Leerink Partners assumed coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective on the stock. Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Medtronic in a research report on Wednesday, October 8th. Finally, Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $102.41.

Medtronic Stock Down 1.0%

Shares of MDT opened at $95.52 on Monday. The firm has a market capitalization of $122.52 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $93.56 and a 200-day moving average price of $88.74.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is currently 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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