Medtronic PLC $MDT Shares Sold by SVB Wealth LLC

SVB Wealth LLC decreased its holdings in Medtronic PLC (NYSE:MDT) by 20.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 33,494 shares of the medical technology company’s stock after selling 8,470 shares during the period. SVB Wealth LLC’s holdings in Medtronic were worth $2,902,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the fourth quarter worth $27,000. Lodestone Wealth Management LLC acquired a new position in shares of Medtronic during the 4th quarter valued at $27,000. Anfield Capital Management LLC boosted its position in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Board of the Pension Protection Fund purchased a new stake in Medtronic during the 4th quarter worth $29,000. Finally, GoalVest Advisory LLC purchased a new stake in Medtronic during the 4th quarter worth $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

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

Medtronic Stock Performance

Shares of MDT stock opened at $79.15 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The company’s fifty day moving average price is $79.96 and its two-hundred day moving average price is $90.25. The firm has a market capitalization of $101.62 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.13 and a beta of 0.58. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the firm earned $1.62 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. Medtronic’s payout ratio is 76.14%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDT. TD Cowen reissued a “buy” rating and issued a $119.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Argus decreased their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Finally, Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.00.

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).