Westfield Capital Management Co. LP Sells 11,893 Shares of Medtronic PLC $MDT

Westfield Capital Management Co. LP lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 16.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,922 shares of the medical technology company’s stock after selling 11,893 shares during the period. Westfield Capital Management Co. LP’s holdings in Medtronic were worth $5,897,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Geode Capital Management LLC increased its stake in Medtronic by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Medtronic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after buying an additional 192,410 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Medtronic by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after buying an additional 98,220 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after buying an additional 666,557 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDT. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Sanford C. Bernstein upped their price target on Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Leerink Partners reduced their price objective on Medtronic from $120.00 to $119.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Mizuho raised Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company started coverage on shares of Medtronic in a report on Friday, January 30th. They set an “overweight” rating and a $114.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $110.84.

Medtronic Trading Up 0.3%

Shares of NYSE:MDT opened at $96.97 on Friday. The stock’s 50-day simple moving average is $98.95 and its two-hundred day simple moving average is $96.83. The stock has a market capitalization of $124.50 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.43 and a beta of 0.71. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s payout ratio is presently 79.11%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Medtronic Profile

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).