International Assets Investment Management LLC Sells 513 Shares of Medtronic PLC $MDT

International Assets Investment Management LLC cut its holdings in Medtronic PLC (NYSE:MDT) by 3.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,084 shares of the medical technology company’s stock after selling 513 shares during the period. International Assets Investment Management LLC’s holdings in Medtronic were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MDT. Boston Partners boosted its holdings in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after buying an additional 3,809,450 shares during the period. Ameriprise Financial Inc. boosted its holdings in Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Medtronic by 42.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC bought a new position in Medtronic in the 1st quarter valued at $260,649,000. Finally, Mackenzie Financial Corp boosted its holdings in Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock valued at $216,753,000 after purchasing an additional 1,660,357 shares during the period. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MDT shares. Sanford C. Bernstein raised their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. The Goldman Sachs Group cut their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Robert W. Baird raised their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 price objective on shares of Medtronic in a report on Friday, October 10th. Finally, Daiwa Capital Markets lifted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $102.82.

Insiders Place Their Bets

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

Medtronic Stock Performance

NYSE MDT opened at $95.62 on Monday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. 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 market capitalization of $122.65 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.52 and a beta of 0.78. The company has a fifty day moving average of $94.07 and a 200-day moving average of $88.99.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

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.