Medtronic PLC $MDT Shares Sold by Westside Investment Management Inc.

Westside Investment Management Inc. decreased its stake in shares of Medtronic PLC (NYSE:MDT) by 56.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,599 shares of the medical technology company’s stock after selling 8,683 shares during the period. Westside Investment Management Inc.’s holdings in Medtronic were worth $516,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have issued reports on MDT. BTIG Research restated a “buy” rating and issued a $91.00 target price on shares of Medtronic in a report on Monday, July 13th. Wells Fargo & Company lowered their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Evercore set a $105.00 price objective on shares of Medtronic in a research report on Monday, July 6th. Sanford C. Bernstein reduced their price objective on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $101.00 target price on shares of Medtronic in a research report on Wednesday, June 17th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.83.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction that occurred 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 directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $90.69 on Friday. The stock has a fifty day moving average price of $83.01 and a 200 day moving average price of $86.33. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The firm has a market capitalization of $116.09 billion, a P/E ratio of 24.31, a PEG ratio of 2.43 and a beta of 0.55. 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 quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion for 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%.The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. 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. Medtronic’s dividend payout ratio is 77.21%.

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).