Morgan Dempsey Capital Management LLC Trims Holdings in Medtronic PLC $MDT

Morgan Dempsey Capital Management LLC trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 61,476 shares of the medical technology company’s stock after selling 6,488 shares during the period. Medtronic makes up about 2.9% of Morgan Dempsey Capital Management LLC’s holdings, making the stock its 13th biggest holding. Morgan Dempsey Capital Management LLC’s holdings in Medtronic were worth $5,949,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Mariner LLC grew its position in Medtronic by 5.1% during the 4th quarter. Mariner LLC now owns 776,500 shares of the medical technology company’s stock valued at $74,598,000 after purchasing an additional 37,485 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in Medtronic during the 4th quarter valued at about $82,000. Nicolet Advisory Services LLC grew its position in Medtronic by 142.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 8,912 shares of the medical technology company’s stock valued at $864,000 after purchasing an additional 5,243 shares during the last quarter. Fieldview Capital Management LLC purchased a new stake in Medtronic during the 4th quarter valued at about $917,000. Finally, Focus Partners Wealth grew its position in Medtronic by 106.7% during the 4th quarter. Focus Partners Wealth now owns 463,460 shares of the medical technology company’s stock valued at $44,535,000 after purchasing an additional 239,265 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC cut their price objective on shares of Medtronic from $120.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Piper Sandler dropped their price target on shares of Medtronic from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 price target on shares of Medtronic in a report on Thursday, June 4th. Barclays raised their price target on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Finally, Rothschild & Co Redburn dropped their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Trading Down 0.1%

Shares of NYSE:MDT opened at $80.11 on Monday. The stock has a market capitalization of $102.85 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock’s 50-day simple moving average is $80.85 and its two-hundred day simple moving average is $91.29. Medtronic PLC has a 52-week low of $73.31 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s payout ratio is 76.14%.

Insider Transactions at Medtronic

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

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).