SVB Wealth LLC Sells 22,762 Shares of Medtronic PLC $MDT

SVB Wealth LLC decreased its position in shares of Medtronic PLC (NYSE:MDT) by 29.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,411 shares of the medical technology company’s stock after selling 22,762 shares during the period. SVB Wealth LLC’s holdings in Medtronic were worth $4,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. 1248 Management LLC acquired a new stake in Medtronic in the 1st quarter valued at approximately $26,000. Twin Tree Management LP bought a new position in Medtronic during the first quarter worth $29,000. Activest Wealth Management raised its stake in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the last quarter. GFG Capital LLC bought a new stake in Medtronic in the 2nd quarter valued at $36,000. Finally, True Wealth Design LLC grew its position in Medtronic by 49.8% in the 2nd quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock worth $37,000 after purchasing an additional 140 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on MDT shares. Citigroup raised their target price on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Cowen reiterated a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Leerink Partners set a $120.00 target price on shares of Medtronic and gave the company an “outperform” rating in a research note on Wednesday, November 19th. The Goldman Sachs Group set a $111.00 price target on shares of Medtronic and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.44.

Medtronic Price Performance

Shares of Medtronic stock opened at $101.39 on Monday. The stock has a market capitalization of $129.99 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 2.67 and a beta of 0.71. The firm’s 50-day moving average price is $96.79 and its two-hundred day moving average price is $92.28. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the company earned $1.26 EPS. Medtronic’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Medtronic 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.