Medtronic PLC $MDT Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 15.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 92,155 shares of the medical technology company’s stock after selling 16,418 shares during the quarter. Medtronic accounts for 0.7% of Anchor Investment Management LLC’s investment portfolio, making the stock its 27th largest position. Anchor Investment Management LLC’s holdings in Medtronic were worth $8,852,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Medtronic during the 4th quarter valued at about $1,653,485,000. Capital Research Global Investors boosted its stake in Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the period. Barclays PLC boosted its stake in Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after buying an additional 3,492,192 shares during the period. Schroder Investment Management Group increased its position 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 last quarter. Finally, Wellington Management Group LLP increased its position in shares of Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after acquiring an additional 2,658,981 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 1.6%

MDT stock opened at $79.37 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company’s 50 day moving average price is $80.32 and its 200 day moving average price is $90.58. The firm has a market capitalization of $101.90 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.10 and a beta of 0.58. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. Medtronic’s revenue for the quarter was up 9.9% compared to the same quarter last year. 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 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is currently 76.14%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $101.00 price objective on shares of Medtronic in a report on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Daiwa Securities Group decreased their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently 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).