Rep. Jefferson Shreve Sells Off Shares of Medtronic PLC (NYSE:MDT)

Key Points

• Representative Jefferson Shreve of Indiana sold shares of Medtronic PLC between $15,001 and $50,000 on May 8th, as disclosed in a filing.
• Medtronic reported a 3.9% year-over-year revenue increase for the quarter ending May 21st, achieving earnings per share of $1.62, exceeding estimates.
• The company announced an increase in its quarterly dividend to $0.71, reflecting a positive change from its previous dividend of $0.70, with an annualized yield of 3.08%.

Representative Jefferson Shreve (R-Indiana) recently sold shares of Medtronic PLC NYSE: MDT. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in Medtronic stock on May 8th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Medtronic Stock Up 0.4%

Shares of NYSE:MDT opened at $92.35 on Friday. The company has a 50-day moving average price of $86.91 and a 200 day moving average price of $87.44. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 12 month low of $78.32 and a 12 month high of $96.25. The company has a market cap of $118.45 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 2.39 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.71 dividend. The ex-dividend date was Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.08%. Medtronic's dividend payout ratio (DPR) is 78.45%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank Of Canada reduced their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. William Blair upgraded Medtronic to a "hold" rating in a research note on Friday, July 11th. BTIG Research reissued a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Leerink Partners began coverage on shares of Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective on the stock. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.19.

Institutional Investors Weigh In On Medtronic

A number of institutional investors and hedge funds have recently bought and sold shares of MDT. Vanguard Group Inc. lifted its holdings in shares of Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock valued at $11,233,780,000 after buying an additional 810,854 shares during the period. Capital Research Global Investors raised its position in shares of Medtronic by 1.8% in the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after buying an additional 571,700 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Medtronic by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after purchasing an additional 574,055 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after buying an additional 1,461,841 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.

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