Clarkston Capital Partners LLC Sells 190,708 Shares of Medtronic PLC $MDT

Clarkston Capital Partners LLC lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 89.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,151 shares of the medical technology company’s stock after selling 190,708 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Medtronic were worth $2,006,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MDT. Brighton Jones LLC lifted its stake in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Medtronic during the second quarter worth about $299,000. Main Street Financial Solutions LLC raised its holdings in shares of Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after acquiring an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after acquiring an additional 3,376 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Citigroup dropped their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. dropped their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. UBS Group cut 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, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.21.

Medtronic Trading Up 0.4%

Shares of MDT opened at $82.19 on Friday. The business has a 50-day moving average of $80.01 and a 200 day moving average of $87.55. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm has a market cap of $105.20 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 2.20 and a beta of 0.56. 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 (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. The company 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%. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on 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 owned 37,227 shares of the company’s stock, 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 through the SEC website. 0.26% of the stock is owned by corporate insiders.

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).