Berkshire Asset Management LLC PA Trims Holdings in Medtronic PLC $MDT

Berkshire Asset Management LLC PA trimmed its position in Medtronic PLC (NYSE:MDT) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,358 shares of the medical technology company’s stock after selling 11,801 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Medtronic were worth $4,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Brighton Jones LLC increased its holdings 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 worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after purchasing an additional 381 shares during the period. Jump Financial LLC bought a new position in Medtronic in the 2nd quarter worth approximately $299,000. Main Street Financial Solutions LLC boosted its stake in 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 worth $1,251,000 after purchasing an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC boosted its stake in Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after purchasing an additional 3,376 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 1.2%

NYSE MDT opened at $81.36 on Wednesday. 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 has a market capitalization of $104.45 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.16 and a beta of 0.58. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock has a 50 day moving average price of $80.62 and a 200-day moving average price of $90.95.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities analysts predict that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is currently 76.14%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MDT shares. Leerink Partners dropped their price target on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Evercore set a $106.00 price target on Medtronic and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Daiwa Securities Group dropped their price target on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Piper Sandler restated a “neutral” rating and issued a $85.00 price target on shares of Medtronic in a research note on Tuesday. Finally, Stifel Nicolaus set a $80.00 price target on Medtronic in a research note on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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).