South Dakota Investment Council Sells 8,688 Shares of Medtronic PLC $MDT

South Dakota Investment Council lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,679 shares of the medical technology company’s stock after selling 8,688 shares during the quarter. South Dakota Investment Council’s holdings in Medtronic were worth $11,323,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Madison Asset Management LLC grew its position in Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after purchasing an additional 25,527 shares in the last quarter. Ticino Wealth acquired a new position in shares of Medtronic during the 4th quarter worth about $2,049,000. First Eagle Investment Management LLC boosted its stake in shares of Medtronic by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock worth $939,009,000 after buying an additional 40,196 shares during the last quarter. KBC Group NV grew its holdings in shares of Medtronic by 5.2% in the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock valued at $41,354,000 after acquiring an additional 21,384 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after acquiring an additional 89,111 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.7%

Medtronic stock opened at $87.53 on Thursday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The stock has a market capitalization of $112.04 billion, a P/E ratio of 23.47, a PEG ratio of 2.33 and a beta of 0.56. The stock has a 50-day simple moving average of $80.64 and a 200 day simple moving average of $87.17.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.3%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 77.21%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Mizuho decreased their price target on Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. TD Cowen dropped their price objective on Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $101.00 price objective on shares of Medtronic in a report on Wednesday, June 17th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).