Pathway Financial Advisers LLC Sells 18,843 Shares of Medtronic PLC $MDT

Pathway Financial Advisers LLC trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 48.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,748 shares of the medical technology company’s stock after selling 18,843 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Medtronic were worth $1,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Spinnaker Trust increased its stake in shares of Medtronic by 182.0% in the first quarter. Spinnaker Trust now owns 60,535 shares of the medical technology company’s stock valued at $5,245,000 after buying an additional 39,065 shares during the period. Moss Adams Wealth Advisors LLC raised its holdings in Medtronic by 14.5% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 4,714 shares of the medical technology company’s stock valued at $412,000 after buying an additional 597 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its holdings in Medtronic by 5.8% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 46,923 shares of the medical technology company’s stock valued at $4,066,000 after buying an additional 2,555 shares during the last quarter. Intrua Financial LLC boosted its position in Medtronic by 3.9% during the 1st quarter. Intrua Financial LLC now owns 14,089 shares of the medical technology company’s stock worth $1,221,000 after buying an additional 533 shares during the period. Finally, Simmons Bank boosted its position in Medtronic by 4.6% during the 1st quarter. Simmons Bank now owns 8,584 shares of the medical technology company’s stock worth $744,000 after buying an additional 377 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Several articles highlighted a bullish thesis on Medtronic, citing its attractive forward valuation and positioning as a long-term holding for income- and value-focused investors. Is Medtronic plc (MDT) A Good Stock To Buy Now?
• Positive Sentiment: Medtronic recently received FDA 510(k) clearance for its Nellcor pulse oximetry system with the new Nell-EQ intelligent processor, which could support sentiment around innovation and future product competitiveness. Here is Why Medtronic (MDT) is One of the Best Long Term Stocks to Buy According to Hedge Funds
• Positive Sentiment: Hedge-fund-focused commentary described MDT as one of the better long-term healthcare stocks, reinforcing investor confidence in the company’s defensive profile and steady earnings power. Here is Why Medtronic (MDT) is One of the Best Long Term Stocks to Buy According to Hedge Funds
• Neutral Sentiment: One article compared Medtronic with Globus Medical and concluded Globus may have more upside because of stronger growth and innovation, which could cap enthusiasm for MDT relative to peers. GMED vs. MDT: Which Medical Stock Has More Upside Potential?
• Neutral Sentiment: A broader commentary said Medtronic is “coming back” but is still not yet a high-conviction growth story, suggesting improvement without a major near-term re-rating. Medtronic: Coming Back, But Not Yet Ready For Greatness

Medtronic Stock Up 0.0%

MDT stock opened at $80.99 on Tuesday. The stock’s 50 day simple moving average is $79.30 and its 200 day simple moving average is $89.53. The company has a market cap of $103.68 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a $0.72 dividend. 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 an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s payout ratio is currently 77.21%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. 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. Mizuho cut their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Evercore set a $106.00 price objective on Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, Weiss Ratings lowered Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average target price 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).