Medtronic PLC $MDT Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Medtronic PLC (NYSE:MDT) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 885,098 shares of the medical technology company’s stock after selling 178,782 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Medtronic worth $76,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of Medtronic by 1,368.0% in 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 during the last quarter. Sivia Capital Partners LLC boosted its stake in Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after buying an additional 381 shares during the period. Jump Financial LLC acquired a new stake in shares of Medtronic during the second quarter valued at about $299,000. Main Street Financial Solutions LLC raised its stake 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 acquiring an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC raised its stake in shares of Medtronic by 21.3% in 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 acquiring an additional 3,376 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was 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 owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of MDT opened at $83.20 on Friday. 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. The firm has a 50-day simple moving average of $79.50 and a 200-day simple moving average of $87.99. The company has a market capitalization of $106.50 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The firm’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. On average, equities research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDT. Stifel Nicolaus set a $80.00 price objective on shares of Medtronic in a research report on Wednesday, June 3rd. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Citigroup lowered their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $101.00 price objective on shares of Medtronic in a report on Wednesday, June 17th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target 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).