SteelPeak Wealth LLC Sells 35,465 Shares of Medtronic PLC $MDT

SteelPeak Wealth LLC reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 92.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,812 shares of the medical technology company’s stock after selling 35,465 shares during the quarter. SteelPeak Wealth LLC’s holdings in Medtronic were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MDT. Madison Asset Management LLC increased its position in Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after acquiring an additional 25,527 shares during the last quarter. Ticino Wealth bought a new stake in shares of Medtronic during the 4th quarter valued at about $2,049,000. First Eagle Investment Management LLC grew its stake in shares of Medtronic by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after purchasing an additional 40,196 shares during the period. KBC Group NV increased its position in shares of Medtronic by 5.2% during the 4th quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock valued at $41,354,000 after purchasing an additional 21,384 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Medtronic by 12.7% during the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock valued at $75,988,000 after purchasing an additional 89,111 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.0%

Shares of NYSE:MDT opened at $83.20 on Monday. The stock has a 50 day moving average of $79.50 and a 200 day moving average of $87.94. The company has a market cap of $106.50 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the business earned $1.62 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a dividend of $0.72 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. Medtronic’s dividend payout ratio is presently 77.21%.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. TD Cowen lowered their price objective on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Leerink Partners decreased their price target on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Rothschild & Co Redburn dropped their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Finally, 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. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $98.21.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction 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 approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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).