Eurizon Capital SGR S.p.A. lowered its stake in shares of Medtronic PLC (NYSE:MDT – Free Report) by 8.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 736,877 shares of the medical technology company’s stock after selling 72,422 shares during the quarter. Eurizon Capital SGR S.p.A. owned about 0.06% of Medtronic worth $63,594,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. WCM Investment Management LLC bought a new stake in shares of Medtronic during the 1st quarter valued at $965,922,000. First Eagle Investment Management LLC grew its holdings in shares of Medtronic by 37.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after purchasing an additional 3,739,288 shares in the last quarter. Cullen Capital Management LLC acquired a new stake in shares of Medtronic during the 2nd quarter worth $202,764,000. State Street Corp increased its position in shares of Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after purchasing an additional 1,658,301 shares during the period. Finally, Amundi increased its position in shares of Medtronic by 36.3% in the first quarter. Amundi now owns 6,070,236 shares of the medical technology company’s stock worth $525,986,000 after purchasing an additional 1,616,739 shares during the period. Institutional investors own 82.06% of the company’s stock.
Wall Street Analyst Weigh In
MDT has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Wednesday, October 14th. Robert W. Baird boosted their target price on shares of Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. BTIG Research cut their price target on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a report on Monday, October 12th. Finally, Barclays upgraded shares of Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Eighteen 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’s stock. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $102.88.
Get Our Latest Stock Report on Medtronic
Insider Buying and Selling at Medtronic
In other news, EVP Michael Marinaro sold 10,420 shares of the company’s 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 transaction, the executive vice president directly owned 105,916 shares in the company, valued at approximately $10,167,936. This represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the stock in a transaction on Thursday, October 15th. The shares were 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 of the company’s stock, valued at $26,397,270. The trade was 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. Corporate insiders own 0.27% of the company’s stock.
Medtronic Stock Down 0.6%
Shares of NYSE MDT opened at $100.96 on Friday. 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 company has a market cap of $129.14 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.38 and a beta of 0.56. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The stock has a 50-day moving average price of $93.52 and a two-hundred day moving average price of $88.46.
Medtronic (NYSE:MDT – Get Free Report) last posted its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The business’s revenue for the quarter 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, analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is presently 70.94%.
Medtronic Company Profile
Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products. The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.
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