Interchange Capital Partners LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,263 shares of the medical technology company’s stock, valued at approximately $454,000.
Other large investors have also recently added to or reduced their stakes in the company. TOWER TRUST & INVESTMENT Co grew its position in shares of Medtronic by 4.0% during the 3rd quarter. TOWER TRUST & INVESTMENT Co now owns 13,535 shares of the medical technology company’s stock valued at $1,168,000 after buying an additional 524 shares during the last quarter. Childress Capital Advisors LLC raised its stake in Medtronic by 39.2% during the third quarter. Childress Capital Advisors LLC now owns 4,617 shares of the medical technology company’s stock worth $398,000 after acquiring an additional 1,299 shares during the period. D.A. Davidson & CO. lifted its holdings in Medtronic by 2.5% in the third quarter. D.A. Davidson & CO. now owns 185,131 shares of the medical technology company’s stock worth $15,975,000 after acquiring an additional 4,523 shares during the last quarter. Redmond Asset Management LLC lifted its holdings in Medtronic by 292.9% in the third quarter. Redmond Asset Management LLC now owns 20,378 shares of the medical technology company’s stock worth $1,758,000 after acquiring an additional 15,192 shares during the last quarter. Finally, DecisionPoint Financial LLC lifted its holdings in Medtronic by 301.8% in the third quarter. DecisionPoint Financial LLC now owns 884 shares of the medical technology company’s stock worth $76,000 after acquiring an additional 664 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MDT has been the subject of a number of research reports. Barclays upgraded Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Bank of America increased their price target on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Evercore set a $105.00 price target on Medtronic in a research report on Monday, July 6th. Mizuho set a $115.00 price target on Medtronic in a report on Wednesday, September 2nd. Finally, Wells Fargo & Company boosted their price objective on Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.
Get Our Latest Stock Report on Medtronic
Insider Activity at Medtronic
In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the completion of the sale, the executive vice president owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the business’s 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 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 have sold 61,903 shares of company stock worth $5,889,203 over the last quarter. 0.27% of the stock is currently owned by company insiders.
Medtronic Trading Down 0.6%
Shares of MDT stock opened at $96.55 on Friday. 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 PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock has a fifty day moving average of $91.70 and a two-hundred day moving average of $88.34. The firm has a market capitalization of $123.50 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 2.27 and a beta of 0.55.
Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly 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 company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same period last year, the company earned $1.26 earnings per share. The company’s quarterly 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. As a group, research analysts expect that Medtronic PLC will post 5.98 EPS for the current year.
Medtronic Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 70.94%.
Medtronic 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.
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