Diversified Trust Co raised its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 14.6% in the third quarter, Holdings Channel reports. The institutional investor owned 115,378 shares of the medical technology company’s stock after acquiring an additional 14,720 shares during the period. Diversified Trust Co’s holdings in Medtronic were worth $9,956,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in MDT. EagleClaw Capital Managment LLC grew its holdings in Medtronic by 5.2% during the third quarter. EagleClaw Capital Managment LLC now owns 71,390 shares of the medical technology company’s stock valued at $6,160,000 after purchasing an additional 3,545 shares during the period. Moors & Cabot Inc. raised its stake in shares of Medtronic by 10.3% in the third quarter. Moors & Cabot Inc. now owns 68,621 shares of the medical technology company’s stock worth $5,921,000 after buying an additional 6,388 shares during the period. Valmark Advisers Inc. raised its stake in shares of Medtronic by 2.1% in the third quarter. Valmark Advisers Inc. now owns 5,758 shares of the medical technology company’s stock worth $497,000 after buying an additional 121 shares during the period. Money Concepts Capital Corp raised its stake in shares of Medtronic by 0.4% in the third quarter. Money Concepts Capital Corp now owns 55,424 shares of the medical technology company’s stock worth $4,783,000 after buying an additional 243 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Medtronic by 104.2% during the 3rd quarter. Allworth Financial LP now owns 101,639 shares of the medical technology company’s stock valued at $8,770,000 after buying an additional 51,864 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Medtronic
In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the transaction, the executive vice president directly owned 105,916 shares in the company, valued at $10,167,936. This trade represents a 8.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $138,882.95. Following the transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,903 shares of company stock valued at $5,889,203 in the last quarter. 0.27% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Sunday, November 8th. Weiss Ratings raised shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. BTIG Research dropped their price target on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Bank of America increased their price objective on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, September 2nd. Eighteen research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.88.
Medtronic Trading Up 1.8%
MDT stock opened at $102.84 on Friday. The firm has a fifty day moving average price of $93.72 and a 200 day moving average price of $88.47. 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 cap of $131.54 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.36 and a beta of 0.56. 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 announced 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. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Sell-side analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.
Medtronic 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.
Featured Articles
- Five stocks we like better than Medtronic
- Nu Holdings Earnings Show a Compounder Priced Like a Brazil Bet
- Game On: The Hidden Value in Take-Two’s Stock
- LightPath Technologies’ Record Backlog Highlights a Bigger Defense Opportunity
- A 10-Stock Strategy That Balances AI Growth With Cash Flow
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.
