Clarkston Capital Partners LLC Sells 190,708 Shares of Medtronic PLC $MDT

Clarkston Capital Partners LLC trimmed its holdings in Medtronic PLC (NYSE:MDT) by 89.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,151 shares of the medical technology company’s stock after selling 190,708 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Medtronic were worth $2,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dickmeyer Boyce Financial Management Inc. acquired a new stake in Medtronic during the 1st quarter worth $508,000. Sei Investments Co. lifted its stake in shares of Medtronic by 19.2% in the 1st quarter. Sei Investments Co. now owns 1,244,868 shares of the medical technology company’s stock valued at $107,872,000 after purchasing an additional 200,352 shares during the period. Davis R M Inc. boosted its position in shares of Medtronic by 4.1% in the 1st quarter. Davis R M Inc. now owns 281,484 shares of the medical technology company’s stock worth $24,579,000 after purchasing an additional 11,040 shares during the last quarter. Forefront Analytics LLC boosted its position in shares of Medtronic by 24.3% in the 1st quarter. Forefront Analytics LLC now owns 5,319 shares of the medical technology company’s stock worth $461,000 after purchasing an additional 1,039 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Medtronic during the first quarter worth $186,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $82.19 on Friday. The stock has a market capitalization of $105.20 billion, a PE ratio of 22.03, 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 firm has a fifty day simple moving average of $80.01 and a 200 day simple moving average of $87.55. 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 posted its 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. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the company posted $1.62 EPS. Medtronic’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. 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. This represents a $2.88 annualized dividend and a yield of 3.5%. Medtronic’s payout ratio is presently 77.21%.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’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 transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft decreased their target price on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $101.00 price objective on shares of Medtronic in a research report on Wednesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $98.21.

About Medtronic

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).