Lincoln Capital Corp Sells 19,956 Shares of Medtronic PLC $MDT

Lincoln Capital Corp cut its position in shares of Medtronic PLC (NYSE:MDT) by 88.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,637 shares of the medical technology company’s stock after selling 19,956 shares during the quarter. Lincoln Capital Corp’s holdings in Medtronic were worth $228,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted 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 worth $3,194,000 after buying an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Medtronic during the second quarter valued at approximately $299,000. Main Street Financial Solutions LLC lifted its holdings in Medtronic by 28.9% during the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after acquiring an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC lifted its holdings in Medtronic by 21.3% during the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after acquiring an additional 3,376 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $79.37 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $80.13 and a two-hundred day simple moving average of $90.41. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The firm has a market cap of $101.90 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58.

Medtronic (NYSE:MDT) last issued its 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 14.61% 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 period in the previous year, the company posted $1.62 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.6%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

Analyst Ratings Changes

MDT has been the subject of a number of recent analyst reports. Daiwa Securities Group reduced their price objective on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Argus lowered their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Robert W. Baird cut their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, June 3rd. Finally, TD Cowen restated a “buy” rating and set a $119.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.00.

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).