Lansforsakringar Fondforvaltning AB publ Cuts Holdings in Medtronic PLC $MDT

Lansforsakringar Fondforvaltning AB publ trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,455 shares of the medical technology company’s stock after selling 5,076 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Medtronic were worth $2,467,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Burkett Financial Services LLC increased its holdings in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after buying an additional 185 shares during the period. Columbia River Financial Group LLC purchased a new position in Medtronic during the first quarter valued at approximately $28,000. Wood Tarver Financial Group LLC purchased a new position in Medtronic during the fourth quarter valued at approximately $27,000. Hughes Financial Services LLC purchased a new position in Medtronic during the first quarter valued at approximately $32,000. Finally, Investment Management Corp VA ADV increased its holdings in Medtronic by 144.2% during the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after buying an additional 238 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research reports. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Robert W. Baird upped their price target on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. Royal Bank Of Canada reduced their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein upped their price target on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $102.14.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Medtronic Trading Up 0.8%

NYSE:MDT opened at $92.72 on Monday. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The firm has a fifty day simple moving average of $90.31 and a 200-day simple moving average of $88.02. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $118.93 billion, a P/E ratio of 25.54, a PEG ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.