Laffer Tengler Investments Inc. Reduces Position in Medtronic PLC $MDT

Laffer Tengler Investments Inc. trimmed its stake in Medtronic PLC (NYSE:MDT) by 14.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 47,071 shares of the medical technology company’s stock after selling 7,667 shares during the period. Laffer Tengler Investments Inc.’s holdings in Medtronic were worth $4,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Medtronic by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock valued at $11,233,780,000 after buying an additional 810,854 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock valued at $2,001,903,000 after purchasing an additional 1,461,841 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Medtronic by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after purchasing an additional 595,549 shares during the period. Deutsche Bank AG raised its holdings in Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after buying an additional 566,155 shares during the period. Finally, Invesco Ltd. boosted its stake in Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after buying an additional 1,535,308 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT opened at $92.22 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a 50 day moving average price of $94.20 and a 200-day moving average price of $90.05. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The stock has a market capitalization of $118.29 billion, a PE ratio of 25.41, a PEG ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Sanford C. Bernstein reissued an “outperform” rating and set a $98.00 price target on shares of Medtronic in a research note on Friday, October 31st. Robert W. Baird raised their price target on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. UBS Group lifted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.