Janus Henderson Group PLC Decreases Stake in Medtronic PLC $MDT

Janus Henderson Group PLC lowered its stake in Medtronic PLC (NYSE:MDT) by 8.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,835,816 shares of the medical technology company’s stock after selling 278,342 shares during the period. Janus Henderson Group PLC’s holdings in Medtronic were worth $245,717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Brighton Jones LLC raised its holdings in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Medtronic in the second quarter valued at about $299,000. Main Street Financial Solutions LLC increased its position in shares of Medtronic by 28.9% in the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC raised its stake in shares of Medtronic by 21.3% during the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MDT shares. Leerink Partners dropped their target price on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 price target on shares of Medtronic in a research report on Wednesday, June 17th. UBS Group upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Trading Down 2.1%

NYSE:MDT opened at $85.74 on Friday. The company has a 50-day moving average price of $80.80 and a 200-day moving average price of $87.08. 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. The stock has a market cap of $109.75 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 2.35 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating 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 firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is presently 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s 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 in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

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).