Medtronic PLC $MDT Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 50.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,736 shares of the medical technology company’s stock after selling 7,939 shares during the period. Cim Investment Management Inc.’s holdings in Medtronic were worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of MDT. Norges Bank acquired a new stake in Medtronic in the second quarter worth about $1,432,698,000. Barclays PLC increased its stake in shares of Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after acquiring an additional 3,492,192 shares during the period. Schroder Investment Management Group increased its stake in shares of Medtronic by 78.3% during the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after acquiring an additional 3,307,211 shares during the period. Guinness Asset Management LTD acquired a new stake in Medtronic in the third quarter worth approximately $275,556,000. Finally, Wellington Management Group LLP raised its stake in shares of Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after buying an additional 2,658,981 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $88.50 on Wednesday. The company has a market capitalization of $113.62 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 2.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The company has a 50-day simple moving average of $97.54 and a 200 day simple moving average of $96.85.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.2%. Medtronic’s dividend payout ratio is presently 79.11%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDT. Robert W. Baird lowered their price objective on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Mizuho upgraded Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. UBS Group restated a “neutral” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 4th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Finally, Wells Fargo & Company assumed coverage on Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.74.

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).