Longview Partners Guernsey LTD Sells 328,280 Shares of Medtronic PLC $MDT

Longview Partners Guernsey LTD reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,197,530 shares of the medical technology company’s stock after selling 328,280 shares during the quarter. Medtronic accounts for approximately 3.8% of Longview Partners Guernsey LTD’s portfolio, making the stock its 17th largest holding. Longview Partners Guernsey LTD owned about 0.41% of Medtronic worth $467,050,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Burkett Financial Services LLC grew its stake in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic in the fourth quarter worth about $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the first quarter worth about $28,000. Optiver Holding B.V. bought a new stake in shares of Medtronic in the fourth quarter worth about $31,000. Finally, Hughes Financial Services LLC bought a new stake in shares of Medtronic in the first quarter worth about $32,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.7%

Shares of NYSE MDT opened at $92.02 on Tuesday. The business’s 50 day moving average is $89.81 and its two-hundred day moving average is $88.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The stock has a market capitalization of $117.95 billion, a P/E ratio of 25.35, a PEG ratio of 2.35 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

Insider Buying and Selling

In other news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird raised their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. UBS Group raised their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Royal Bank Of Canada lowered their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Sanford C. Bernstein lifted their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Finally, Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.15.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.