MBL Wealth LLC acquired a new stake in Medtronic PLC (NYSE:MDT – Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,247 shares of the medical technology company’s stock, valued at approximately $625,000.
Several other large investors also recently modified their holdings of MDT. WCM Investment Management LLC acquired a new position in Medtronic in the first quarter valued at $965,922,000. First Eagle Investment Management LLC boosted its position in Medtronic by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock valued at $1,078,321,000 after acquiring an additional 3,739,288 shares during the last quarter. Cullen Capital Management LLC bought a new stake in Medtronic during the second quarter valued at $202,764,000. State Street Corp grew its holdings in Medtronic by 2.7% during the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after acquiring an additional 1,658,301 shares during the period. Finally, Amundi grew its holdings in Medtronic by 36.3% during the 1st quarter. Amundi now owns 6,070,236 shares of the medical technology company’s stock worth $525,986,000 after acquiring an additional 1,616,739 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Stock Down 1.1%
Shares of NYSE MDT traded down $1.11 during trading on Friday, hitting $95.48. 6,008,744 shares of the company traded hands, compared to its average volume of 34,633,724. The business’s fifty day moving average is $91.43 and its 200 day moving average is $85.30. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm has a market capitalization of $122.13 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 2.26 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07.
Medtronic (NYSE:MDT – Get Free Report) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same period in the previous year, the company posted $1.26 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. 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 predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is 70.94%.
Insider Activity
In other news, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Geoffrey Martha sold 50,000 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the completion of the transaction, the chief executive officer owned 277,866 shares in the company, valued at approximately $26,397,270. This represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 61,903 shares of company stock worth $5,889,203 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on MDT. Weiss Ratings raised Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Wells Fargo & Company upped their target price on Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Evercore set a $105.00 target price on Medtronic in a report on Monday, July 6th. Finally, BTIG Research dropped their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.88.
Check Out Our Latest Stock Report on MDT
About Medtronic
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.
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