Medtronic PLC $MDT Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 56.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,924 shares of the medical technology company’s stock after selling 26,583 shares during the period. Meyer Handelman Co.’s holdings in Medtronic were worth $1,637,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Monetary Solutions Ltd acquired a new stake in Medtronic in the 4th quarter valued at about $27,000. Anfield Capital Management LLC grew its holdings in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. Acumen Wealth Advisors LLC purchased a new stake in Medtronic during the 4th quarter worth about $29,000. Imprint Wealth LLC purchased a new position in Medtronic in the 3rd quarter valued at about $31,000. Finally, Basepoint Wealth LLC purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Medtronic Price Performance

MDT stock opened at $90.44 on Tuesday. The stock’s 50 day moving average is $83.40 and its two-hundred day moving average is $86.19. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a market capitalization of $115.77 billion, a PE ratio of 24.25, a P/E/G ratio of 2.45 and a beta of 0.55. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

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

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 77.21%.

Wall Street Analyst Weigh In

Several analysts have commented on MDT shares. BTIG Research reaffirmed a “buy” rating and issued a $91.00 target price on shares of Medtronic in a research note on Monday, July 13th. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. TD Cowen dropped their price objective on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Evercore set a $105.00 price objective on shares of Medtronic in a report on Monday, July 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $101.00 price target on shares of Medtronic in a research report on Wednesday, June 17th. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

About Medtronic

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).