Calamos Advisors LLC Reduces Holdings in Medtronic PLC $MDT

Calamos Advisors LLC trimmed its stake in Medtronic PLC (NYSE:MDT) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 602,965 shares of the medical technology company’s stock after selling 67,872 shares during the quarter. Calamos Advisors LLC’s holdings in Medtronic were worth $52,247,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Lodestone Wealth Management LLC acquired a new position in Medtronic in the 4th quarter valued at $27,000. Anfield Capital Management LLC lifted its stake in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new position in Medtronic during the fourth quarter valued at approximately $27,000. 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 shares of Medtronic in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $83.58 on Tuesday. The company has a market capitalization of $106.98 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.25 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The business’s 50-day moving average is $79.16 and its 200-day moving average is $88.36. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the company earned $1.62 earnings per share. Medtronic’s quarterly 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. Equities research analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. 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. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Wells Fargo & Company cut their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. UBS Group lowered their target price on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, Leerink Partners dropped their price target on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.21.

Medtronic Company 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).