Robeco Institutional Asset Management B.V. decreased its stake in shares of Medtronic PLC (NYSE:MDT – Free Report) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,300 shares of the medical technology company’s stock after selling 24,273 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Medtronic were worth $18,233,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Activest Wealth Management increased its position in shares of Medtronic by 470.9% in the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 259 shares during the period. IAG Wealth Partners LLC purchased a new position in Medtronic in the 2nd quarter worth $30,000. Pin Oak Investment Advisors Inc. purchased a new position in Medtronic in the 2nd quarter worth $32,000. Community Bank N.A. acquired a new stake in Medtronic during the 2nd quarter worth about $33,000. Finally, Core Capital Management & Research inc. acquired a new stake in Medtronic during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on MDT. Robert W. Baird boosted their price target on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. BTIG Research reduced their price objective on Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $92.00 target price on shares of Medtronic in a report on Thursday, September 3rd. Bank of America upped their target price on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Evercore set a $105.00 price objective on shares of Medtronic in a research note on Monday, July 6th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.
Get Our Latest Stock Report on Medtronic
Insider Buying and Selling
In related news, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the transaction, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at $26,397,270. The trade was a 15.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 61,903 shares of company stock valued at $5,889,203. Corporate insiders own 0.27% of the company’s stock.
Medtronic Stock Down 1.1%
Shares of MDT stock opened at $95.48 on Friday. The stock has a 50 day moving average of $91.43 and a 200 day moving average of $85.30. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a market cap of $122.13 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.26 and a beta of 0.55. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.
Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.98 EPS for the current year.
Medtronic Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio is 70.94%.
Medtronic Company Profile
Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.
The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.
Read More
- Five stocks we like better than Medtronic
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
- Chefs’ Warehouse Has Rallied 76%—Can the Stock Keep Climbing?
- MarketBeat Week in Review – 10/19 – 10/23
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT – Free Report).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.
-inc-logo-1200x675.png){kind=logo}
