Vivaldi Capital Management LP Sells 9,866 Shares of Medtronic PLC $MDT

Vivaldi Capital Management LP cut its stake in shares of Medtronic PLC (NYSE:MDT) by 6.3% in the 1st quarter, HoldingsChannel reports. The fund owned 147,393 shares of the medical technology company’s stock after selling 9,866 shares during the quarter. Medtronic accounts for 1.8% of Vivaldi Capital Management LP’s portfolio, making the stock its 15th biggest position. Vivaldi Capital Management LP’s holdings in Medtronic were worth $12,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Monetary Solutions Ltd purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic in the fourth quarter worth $27,000. Anfield Capital Management LLC increased its stake in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares during the period. Acumen Wealth Advisors LLC bought a new stake in Medtronic during the 4th quarter valued at $29,000. Finally, Imprint Wealth LLC bought a new stake in Medtronic during the 3rd quarter valued at $31,000. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of the 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 completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Performance

NYSE:MDT opened at $83.12 on Friday. The stock has a market cap of $106.40 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.56. The firm’s fifty day simple moving average is $80.15 and its 200 day simple moving average is $87.52. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the previous year, the firm earned $1.62 EPS. The company’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. As a group, research analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a dividend of $0.72 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio is presently 77.21%.

Analysts Set New Price Targets

MDT has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Wells Fargo & Company lowered their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. The Goldman Sachs Group dropped their target price on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Jefferies Financial Group reissued a “hold” rating and issued a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Finally, BTIG Research restated a “buy” rating and set a $91.00 price target on shares of Medtronic in a report on Monday, July 13th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.21.

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).