Morgan Dempsey Capital Management LLC Sells 6,488 Shares of Medtronic PLC $MDT

Morgan Dempsey Capital Management LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 9.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,476 shares of the medical technology company’s stock after selling 6,488 shares during the quarter. Medtronic makes up about 2.9% of Morgan Dempsey Capital Management LLC’s holdings, making the stock its 13th biggest holding. Morgan Dempsey Capital Management LLC’s holdings in Medtronic were worth $5,949,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp raised its holdings in Medtronic by 1.8% during the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after buying an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC raised its holdings in Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after buying an additional 101 shares during the last quarter. Ipsen Advisor Group LLC raised its holdings in Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after buying an additional 101 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Medtronic by 0.3% during the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after buying an additional 101 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in Medtronic by 3.3% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after buying an additional 102 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Mizuho decreased their price objective on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Citigroup decreased their price objective on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. BTIG Research upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday, June 3rd. Finally, Rothschild & Co Redburn decreased their price objective on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a report on Friday, June 5th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Down 0.1%

Shares of NYSE MDT opened at $80.11 on Monday. The firm has a fifty day simple moving average of $80.85 and a two-hundred day simple moving average of $91.29. The firm has a market capitalization of $102.85 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share 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 the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 76.14%.

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 dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

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).