Pzena Investment Management LLC Lowers Stake in Medtronic PLC $MDT

Pzena Investment Management LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,147,999 shares of the medical technology company’s stock after selling 9,016 shares during the period. Pzena Investment Management LLC owned approximately 0.25% of Medtronic worth $246,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC increased its position in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after buying an additional 381 shares in the last quarter. Jump Financial LLC bought a new position in Medtronic during the 2nd quarter valued at approximately $299,000. Main Street Financial Solutions LLC raised its stake in Medtronic by 28.9% during 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 buying an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in Medtronic by 21.3% during 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 buying an additional 3,376 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity

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 transaction of $336,963.16. Following the completion of the sale, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MDT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Medtronic in a research note on Tuesday. Rothschild & Co Redburn dropped their price target on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Wells Fargo & Company cut their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $88.00 target price on shares of Medtronic in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.83.

Medtronic Price Performance

Shares of MDT opened at $93.44 on Friday. The firm has a market cap of $119.60 billion, a PE ratio of 25.05, a P/E/G ratio of 2.47 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. The firm has a fifty day simple moving average of $84.39 and a two-hundred day simple moving average of $86.06. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last released 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. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 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).