Medtronic PLC $MDT Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 18.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 148,741 shares of the medical technology company’s stock after selling 34,627 shares during the quarter. NewEdge Advisors LLC’s holdings in Medtronic were worth $11,636,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Medtronic by 1,368.0% during 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 boosted its holdings in Medtronic by 9.6% in 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 acquired a new stake in Medtronic in the second quarter worth about $299,000. Main Street Financial Solutions LLC grew its stake in shares of 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 worth $1,251,000 after acquiring an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC grew its stake in shares of Medtronic by 21.3% during the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after acquiring an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.7%

Shares of NYSE:MDT opened at $90.97 on Friday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a market cap of $116.36 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.15 and a beta of 0.56. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $87.91 and a 200-day moving average price of $85.18.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The firm had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Medtronic’s revenue for the quarter was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Equities analysts predict that Medtronic PLC will post 5.96 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. BTIG Research boosted their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 4th. Finally, Needham & Company LLC raised their price target on shares of Medtronic from $101.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Nineteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

About Medtronic

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.