Medtronic PLC $MDT Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,078 shares of the medical technology company’s stock after selling 13,947 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Medtronic were worth $14,322,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Brighton Jones LLC grew its stake 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 purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after purchasing an additional 381 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at approximately $299,000. Main Street Financial Solutions LLC raised its position in shares of Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after purchasing an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its stake in shares of Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after buying an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Monday, August 10th. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. BTIG Research reissued a “buy” rating and set a $91.00 price objective on shares of Medtronic in a report on Monday, July 13th. Finally, Robert W. Baird dropped their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.83.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Down 0.2%

MDT stock opened at $91.10 on Monday. The firm has a market cap of $116.62 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.45 and a beta of 0.55. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The firm has a fifty day moving average price of $83.20 and a two-hundred day moving average price of $86.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Medtronic Company 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).