Medtronic PLC $MDT Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG trimmed its holdings in Medtronic PLC (NYSE:MDT) by 58.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,892 shares of the medical technology company’s stock after selling 23,557 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Medtronic were worth $1,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lodestone Wealth Management LLC acquired a new position in Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC increased 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 worth $27,000 after acquiring an additional 230 shares during the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the 4th quarter worth $27,000. GoalVest Advisory LLC purchased a new position in shares of Medtronic during the 4th quarter worth $29,000. Finally, Board of the Pension Protection Fund purchased a new position in shares of Medtronic during the 4th quarter worth $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT stock opened at $79.30 on Wednesday. The firm’s 50 day moving average price is $79.19 and its 200-day moving average price is $88.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The firm has a market cap of $101.51 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.24 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted 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. The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a $0.72 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MDT. Argus dropped their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th. Truist Financial reduced their target price on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Evercore set a $105.00 target price on shares of Medtronic in a report on Monday, July 6th. Sanford C. Bernstein dropped their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Mizuho cut their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $98.21.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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).