Medtronic PLC $MDT Shares Sold by Sicart Associates LLC

Sicart Associates LLC lessened its stake in Medtronic PLC (NYSE:MDT) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 72,742 shares of the medical technology company’s stock after selling 2,548 shares during the period. Medtronic makes up about 2.2% of Sicart Associates LLC’s investment portfolio, making the stock its 18th biggest position. Sicart Associates LLC’s holdings in Medtronic were worth $6,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cooper Financial Group increased its holdings in shares of Medtronic by 2.1% in the second quarter. Cooper Financial Group now owns 9,765 shares of the medical technology company’s stock valued at $851,000 after purchasing an additional 203 shares during the last quarter. PGGM Investments increased its holdings in shares of Medtronic by 8.5% in the second quarter. PGGM Investments now owns 1,248,594 shares of the medical technology company’s stock valued at $108,840,000 after purchasing an additional 98,262 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Medtronic by 5.5% in the second quarter. Truist Financial Corp now owns 2,241,476 shares of the medical technology company’s stock valued at $195,389,000 after purchasing an additional 116,469 shares during the last quarter. Chicago Capital LLC increased its holdings in shares of Medtronic by 45.2% in the second quarter. Chicago Capital LLC now owns 16,873 shares of the medical technology company’s stock valued at $1,471,000 after purchasing an additional 5,249 shares during the last quarter. Finally, One Wealth Advisors LLC increased its holdings in shares of Medtronic by 5.3% in the second quarter. One Wealth Advisors LLC now owns 11,010 shares of the medical technology company’s stock valued at $960,000 after purchasing an additional 557 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MDT shares. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Morgan Stanley restated an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. Evercore ISI lifted their target price on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird lifted their target price on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

Medtronic Trading Up 1.3%

MDT opened at $95.23 on Wednesday. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The stock has a market capitalization of $122.15 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.47 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The business has a fifty day moving average price of $92.73 and a 200 day moving average price of $88.40.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s payout ratio is presently 78.24%.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.