Medtronic PLC (NYSE:MDT) Sees Significant Growth in Short Interest

Medtronic PLC (NYSE:MDT) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 14,950,000 shares, an increase of 40.2% from the September 30th total of 10,660,000 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 6,990,000 shares, the short-interest ratio is currently 2.1 days. Based on an average daily trading volume, of 6,990,000 shares, the short-interest ratio is currently 2.1 days. Approximately 1.2% of the shares of the company are short sold.

Medtronic Price Performance

Medtronic stock traded up $0.21 on Tuesday, reaching $90.41. The company’s stock had a trading volume of 4,709,730 shares, compared to its average volume of 7,467,590. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market cap of $115.96 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.42 and a beta of 0.78. The business’s fifty day moving average price is $94.31 and its 200 day moving average price is $89.82. Medtronic has a twelve month low of $79.29 and a twelve month high of $99.37.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

Several brokerages have commented on MDT. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial boosted their price objective on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Argus boosted their price objective on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, Citigroup boosted their price objective on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.82.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Institutional investors and hedge funds have recently bought and sold shares of the business. 1248 Management LLC acquired a new position in shares of Medtronic during the first quarter valued at $26,000. Delos Wealth Advisors LLC acquired a new position in shares of Medtronic during the second quarter valued at $27,000. Corundum Trust Company INC acquired a new position in shares of Medtronic during the third quarter valued at $27,000. Twin Tree Management LP acquired a new position in shares of Medtronic during the first quarter valued at $29,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Medtronic during the third quarter valued at $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.