Hedeker Wealth LLC Sells 17,444 Shares of Medtronic PLC $MDT

by · The Cerbat Gem

Hedeker Wealth LLC trimmed its position in Medtronic PLC (NYSE:MDT – Free Report) by 36.6% during the second quarter, HoldingsChannel.com reports. The fund owned 30,282 shares of the medical technology company’s stock after selling 17,444 shares during the period. Hedeker Wealth LLC’s holdings in Medtronic were worth $2,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ipsen Advisor Group LLC grew its holdings in Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after purchasing an additional 101 shares during the period. Quadrant Capital Group LLC raised its holdings in Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after purchasing an additional 101 shares during the period. Rossby Financial LCC boosted its position in shares of Medtronic by 5.1% during the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock worth $211,000 after purchasing an additional 107 shares in the last quarter. Wealthspire Retirement LLC boosted its position in shares of Medtronic by 5.0% during the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock worth $232,000 after purchasing an additional 114 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Medtronic by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,043 shares of the medical technology company’s stock valued at $622,000 after buying an additional 117 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $92.41 on Wednesday. The firm’s 50 day moving average is $87.33 and its 200-day moving average is $85.21. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $118.20 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT – Get Free Report) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.96 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is currently 70.94%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Leerink Partners reduced their target price on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Wells Fargo & Company raised their price target on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research report on Wednesday, September 2nd. Stifel Nicolaus increased their target price on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday. Nineteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Read Our Latest Research Report on MDT

About Medtronic

(Free Report)

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.

Further Reading

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