Medtronic PLC $MDT Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its holdings in Medtronic PLC (NYSE:MDT) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 826,413 shares of the medical technology company’s stock after selling 54,902 shares during the quarter. Hsbc Holdings PLC’s holdings in Medtronic were worth $79,664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Curbstone Financial Management Corp raised its position in shares of Medtronic by 1.8% during the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after acquiring an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC increased its stake in Medtronic by 7.8% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after purchasing an additional 101 shares during the last quarter. Ipsen Advisor Group LLC increased its stake in Medtronic by 1.7% in the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after purchasing an additional 101 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after purchasing an additional 101 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in Medtronic by 3.3% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after purchasing an additional 102 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.2%

NYSE MDT opened at $79.15 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The firm has a market cap of $101.62 billion, a PE ratio of 21.22, a P/E/G ratio of 2.13 and a beta of 0.58. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The firm’s fifty day moving average is $79.96 and its two-hundred day moving average is $90.25.

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 the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The business’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. Analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is 76.14%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDT shares. Citigroup reduced their price target on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Argus dropped their price objective on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Stifel Nicolaus set a $80.00 target price on Medtronic in a research report on Wednesday, June 3rd. Robert W. Baird reduced their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Finally, UBS Group dropped their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

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).