Medtronic PLC $MDT Shares Sold by Saratoga Research & Investment Management

Saratoga Research & Investment Management reduced its position in shares of Medtronic PLC (NYSE:MDT) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,155,146 shares of the medical technology company’s stock after selling 15,796 shares during the period. Medtronic makes up approximately 5.8% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 6th biggest position. Saratoga Research & Investment Management’s holdings in Medtronic were worth $110,963,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MDT. Artisan Partners Limited Partnership increased its holdings in shares of Medtronic by 2.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after buying an additional 31,314 shares in the last quarter. SageView Advisory Group LLC increased its holdings in shares of Medtronic by 164.8% during the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after buying an additional 15,062 shares in the last quarter. CSM Advisors LLC increased its holdings in shares of Medtronic by 13.2% during the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after buying an additional 33,167 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Medtronic by 65.8% during the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after buying an additional 54,898 shares in the last quarter. Finally, Applied Finance Capital Management LLC acquired a new position in shares of Medtronic during the third quarter worth $1,308,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE MDT opened at $76.12 on Friday. The company has a market capitalization of $97.73 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.81 and a beta of 0.62. Medtronic PLC has a twelve month low of $74.40 and a twelve month high of $106.33. The stock has a fifty day simple moving average of $84.76 and a 200 day simple moving average of $93.64. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.Medtronic’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.57 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price target on shares of Medtronic in a report on Thursday, March 26th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target on shares of Medtronic in a report on Thursday, April 23rd. Truist Financial lowered their price target on shares of Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Piper Sandler lowered their price target on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.80.

Medtronic 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).