Lincoln Capital Corp Sells 19,956 Shares of Medtronic PLC $MDT

Lincoln Capital Corp lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 88.3% during the 1st quarter, HoldingsChannel reports. The fund owned 2,637 shares of the medical technology company’s stock after selling 19,956 shares during the period. Lincoln Capital Corp’s holdings in Medtronic were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $27,000. Anfield Capital Management LLC boosted its stake in 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 purchasing an additional 230 shares during the period. Monetary Solutions Ltd bought a new position in Medtronic in the 4th quarter worth about $27,000. Board of the Pension Protection Fund purchased a new position in Medtronic during the 4th quarter valued at about $29,000. Finally, GoalVest Advisory LLC purchased a new position in Medtronic during the 4th quarter valued at about $29,000. 82.06% of the stock is owned by institutional investors.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Medtronic Stock Performance

NYSE:MDT opened at $79.37 on Monday. The business’s 50-day moving average price is $80.13 and its two-hundred day moving average price is $90.41. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market cap of $101.90 billion, a P/E ratio of 21.28, a PEG ratio of 2.13 and a beta of 0.58. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

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

Medtronic Increases Dividend

The business 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 dividend of $0.72 per share. The ex-dividend date is Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $101.00 price target on shares of Medtronic in a report on Wednesday, June 17th. Daiwa Securities Group reduced their price objective on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Evercore set a $106.00 price objective on shares of Medtronic and gave the company an “outperform” rating in a research note on Thursday, April 9th. The Goldman Sachs Group decreased their target price on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Barclays increased their target price on shares of Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Seventeen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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).