Medtronic PLC $MDT Holdings Lowered by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. cut its holdings in Medtronic PLC (NYSE:MDT) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 86,445 shares of the medical technology company’s stock after selling 7,835 shares during the period. Medtronic comprises approximately 0.7% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 13th largest holding. Armstrong Henry H Associates Inc.’s holdings in Medtronic were worth $7,459,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MDT. Monetary Solutions Ltd purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. IAG Wealth Partners LLC purchased a new stake in Medtronic in the 2nd quarter worth approximately $30,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Medtronic during the second quarter valued at approximately $32,000. Community Bank N.A. bought a new position in Medtronic in the 2nd quarter worth $33,000. Finally, Core Capital Management & Research inc. bought a new position in Medtronic in the second quarter worth about $33,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT traded down $0.50 during midday trading on Wednesday, hitting $86.59. 19,783,249 shares of the company traded hands, compared to its average volume of 9,878,357. The firm has a 50 day moving average of $90.22 and a 200-day moving average of $84.76. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The stock has a market cap of $110.76 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.00 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. During the same period in the prior year, the firm earned $1.26 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, analysts forecast that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is presently 70.94%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Stifel Nicolaus upped their target price on shares of Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, September 2nd. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a research note on Thursday, September 17th. Evercore set a $105.00 price objective on shares of Medtronic in a report on Monday, July 6th. Barclays started coverage on Medtronic in a report on Tuesday. They issued an “equal weight” rating and a $95.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $92.00 price target on shares of Medtronic in a research report on Thursday, September 3rd. Eighteen research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the transaction, the executive vice president owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.