Lee Danner & Bass Inc. Reduces Stake in Medtronic PLC $MDT

Lee Danner & Bass Inc. trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,790 shares of the medical technology company’s stock after selling 5,666 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Medtronic were worth $11,028,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Corundum Trust Company INC acquired a new position in shares of Medtronic during the 3rd quarter worth $27,000. Delos Wealth Advisors LLC purchased a new position in Medtronic during the 2nd quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Medtronic during the third quarter worth about $33,000. Tripletail Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter valued at about $34,000. Finally, Clean Yield Group grew its position in shares of Medtronic by 265.7% in the third quarter. Clean Yield Group now owns 384 shares of the medical technology company’s stock valued at $37,000 after purchasing an additional 279 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 2.2%

Shares of NYSE MDT opened at $96.82 on Tuesday. The stock has a fifty day moving average price of $99.08 and a 200 day moving average price of $94.99. 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 12-month low of $79.55 and a 12-month high of $106.33. The company has a market cap of $124.12 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.55 and a beta of 0.71.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were paid a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is 76.55%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MDT shares. Barclays lifted their price objective on Medtronic from $111.00 to $116.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Sanford C. Bernstein boosted their price target on Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Truist Financial dropped their price objective on Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, Citigroup upped their target price on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Company 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).