Vivaldi Capital Management LP Sells 9,866 Shares of Medtronic PLC $MDT

Vivaldi Capital Management LP cut its position in Medtronic PLC (NYSE:MDT) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,393 shares of the medical technology company’s stock after selling 9,866 shares during the quarter. Medtronic comprises 1.8% of Vivaldi Capital Management LP’s investment portfolio, making the stock its 15th biggest position. Vivaldi Capital Management LP’s holdings in Medtronic were worth $12,772,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MDT. Curbstone Financial Management Corp increased its holdings in shares of Medtronic by 1.8% in the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after purchasing an additional 100 shares during the period. New England Capital Financial Advisors LLC increased its stake in Medtronic by 7.8% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after acquiring an additional 101 shares during the last quarter. Ipsen Advisor Group LLC raised its holdings in shares of Medtronic by 1.7% in the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after acquiring an additional 101 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after purchasing an additional 101 shares in the last quarter. Finally, Rossby Financial LCC grew its holdings in shares of Medtronic by 5.1% during the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock worth $211,000 after purchasing an additional 107 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE MDT opened at $83.12 on Friday. The stock’s 50-day moving average is $80.15 and its 200 day moving average is $87.52. The stock has a market cap of $106.40 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.20 and a beta of 0.56. Medtronic PLC has a 1-year low of $73.31 and a 1-year 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 issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

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

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Evercore set a $105.00 target price on shares of Medtronic in a research note on Monday, July 6th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. 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 report on Thursday, June 4th. 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 report on Friday, July 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.21.

Insider Buying and Selling at Medtronic

In other 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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).