Armstrong Henry H Associates Inc. Sells 8,198 Shares of Medtronic PLC $MDT

Armstrong Henry H Associates Inc. cut its stake in Medtronic PLC (NYSE:MDT) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,929 shares of the medical technology company’s stock after selling 8,198 shares during the period. Medtronic accounts for about 0.9% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 11th biggest position. Armstrong Henry H Associates Inc.’s holdings in Medtronic were worth $9,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its stake in 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 increased its position 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 last quarter. Wealthspire Advisors LLC increased its position in Medtronic by 2.5% during the second quarter. Wealthspire Advisors LLC now owns 7,803 shares of the medical technology company’s stock worth $680,000 after buying an additional 191 shares during the last quarter. Handelsbanken Fonder AB increased its position in Medtronic by 5.3% during the second quarter. Handelsbanken Fonder AB now owns 616,024 shares of the medical technology company’s stock worth $53,699,000 after buying an additional 31,175 shares during the last quarter. Finally, ABN AMRO Bank N.V. bought a new stake in Medtronic in the second quarter valued at approximately $5,098,000. 82.06% of the stock is owned by institutional investors.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Citigroup began coverage on Medtronic in a research report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 target price for the company. Truist Financial cut their target price on Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. Barclays reissued an “overweight” rating and issued a $118.00 price target on shares of Medtronic in a research note on Wednesday, February 18th. 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 investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.74.

Medtronic Price Performance

Shares of MDT stock opened at $86.29 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $96.82 and its 200 day moving average is $96.67. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The stock has a market cap of $110.78 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.23 and a beta of 0.71.

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, beating 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 for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the company earned $1.38 earnings per share. Medtronic’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. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.3%. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

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).