First City Capital Management Inc. Cuts Stock Holdings in Medtronic PLC $MDT

First City Capital Management Inc. lessened its stake in Medtronic PLC (NYSE:MDT) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 3,848 shares of the medical technology company’s stock after selling 150 shares during the period. First City Capital Management Inc.’s holdings in Medtronic were worth $335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Burkett Financial Services LLC lifted its stake in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. 1248 Management LLC purchased a new position in Medtronic in the first quarter valued at approximately $26,000. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $27,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the first quarter worth approximately $28,000. Finally, Twin Tree Management LP purchased a new stake in Medtronic during the first quarter worth approximately $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $95.64 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The business has a 50 day moving average price of $92.39 and a two-hundred day moving average price of $88.39. The firm has a market cap of $122.68 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the business posted $1.23 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s payout ratio is presently 78.24%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BTIG Research restated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Daiwa Capital Markets boosted their price objective on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Sanford C. Bernstein upped their target price on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. UBS Group raised their target price on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Finally, Truist Financial upped their price target on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $102.27.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.