Grandfield & Dodd LLC Decreases Stock Position in Medtronic PLC $MDT

Grandfield & Dodd LLC cut its position in Medtronic PLC (NYSE:MDT) by 9.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 69,225 shares of the medical technology company’s stock after selling 7,235 shares during the period. Grandfield & Dodd LLC’s holdings in Medtronic were worth $5,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% in 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 in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Medtronic by 9.6% during the second 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 in the last quarter. Jump Financial LLC bought a new position in shares of Medtronic in the second quarter worth $299,000. Main Street Financial Solutions LLC grew 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 purchasing an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC grew its position in shares of Medtronic by 21.3% in 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 purchasing an additional 3,376 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $93.44 on Friday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a fifty day moving average of $84.39 and a 200 day moving average of $86.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The firm has a market capitalization of $119.60 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 2.47 and a beta of 0.55.

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, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the prior year, the company earned $1.62 EPS. The company’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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is 77.21%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Leerink Partners dropped their price objective on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $101.00 target price on shares of Medtronic in a report on Wednesday, June 17th. Robert W. Baird decreased their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Medtronic in a research report on Tuesday. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’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 sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

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).