Medtronic PLC $MDT Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its position in shares of Medtronic PLC (NYSE:MDT) by 3.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,309,161 shares of the medical technology company’s stock after selling 102,641 shares during the quarter. Lazard Asset Management LLC’s holdings in Medtronic were worth $286,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MDT. Gateway Wealth Partners LLC purchased a new stake in Medtronic in the first quarter valued at approximately $536,000. OMERS ADMINISTRATION Corp grew its position in shares of Medtronic by 6.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 50,580 shares of the medical technology company’s stock worth $4,383,000 after acquiring an additional 3,279 shares during the last quarter. Van Diest Capital LLC grew its position in shares of Medtronic by 58.4% during the first quarter. Van Diest Capital LLC now owns 6,108 shares of the medical technology company’s stock worth $529,000 after acquiring an additional 2,252 shares during the last quarter. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Medtronic by 10.7% in the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 35,094 shares of the medical technology company’s stock valued at $3,041,000 after acquiring an additional 3,400 shares during the period. Finally, Waverly Advisors LLC increased its holdings in shares of Medtronic by 1.6% in the 1st quarter. Waverly Advisors LLC now owns 106,239 shares of the medical technology company’s stock valued at $9,206,000 after acquiring an additional 1,714 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent research reports. Evercore set a $105.00 price target on shares of Medtronic in a research note on Monday, July 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Argus decreased their target price on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Rothschild & Co Redburn lowered their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.21.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Performance

NYSE:MDT opened at $83.12 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm has a market cap of $106.40 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The firm’s fifty day moving average price is $80.15 and its 200 day moving average price is $87.45. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

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

Medtronic 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).