Sage Capital Advisors llc acquired a new position in Medtronic PLC (NYSE:MDT – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 58,392 shares of the medical technology company’s stock, valued at approximately $5,039,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Monetary Solutions Ltd purchased a new stake in Medtronic in the fourth quarter valued at about $27,000. IAG Wealth Partners LLC acquired a new stake in Medtronic in the second quarter worth about $30,000. Pin Oak Investment Advisors Inc. acquired a new stake in Medtronic in the second quarter worth about $32,000. Community Bank N.A. acquired a new stake in Medtronic in the second quarter worth about $33,000. Finally, Core Capital Management & Research inc. purchased a new stake in shares of Medtronic during the second quarter worth about $33,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
More Medtronic News
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: MiniMed exchange offer was oversubscribed: Medtronic announced it will exchange all of its remaining 252.8 million MiniMed Group (NASDAQ: MMED) shares. The transaction advances the separation of the diabetes-device business and could allow investors to value Medtronic’s continuing operations more directly. The reported 18.3% proration indicates demand exceeded the shares available in the offer. Medtronic Announces Preliminary Results of MiniMed Exchange Offer
- Positive Sentiment: Growth opportunities remain attractive: The global bioelectronic-medicine device market is projected to expand at approximately a 17% annual rate through 2030. Medtronic’s position in neuromodulation and closed-loop technologies could provide exposure to this expanding market. Global Bioelectronic Medicine Device Market 2026
- Neutral Sentiment: Valuation and outlook support the shares: Commentary highlights Medtronic’s modest valuation relative to the broader market and an improving growth outlook. Its latest reported quarter also exceeded earnings and revenue expectations, with revenue up 13.7% year over year. Medtronic’s Modest Valuation Meets an Improving Growth Outlook
- Negative Sentiment: Short interest increased significantly: A larger bearish position in MDT suggests some investors are positioning for weakness and may weigh on sentiment, despite the company’s fundamental catalysts. Medtronic Sees Significant Increase in Short Interest
- Negative Sentiment: BTIG lowered its price target: The firm reduced its target from $100 to $99, although it retained a “buy” rating. The cut signals somewhat less near-term upside and tempers the otherwise constructive analyst view. Medtronic Price Target Cut by BTIG Research
Analyst Upgrades and Downgrades
Read Our Latest Report on Medtronic
Medtronic Stock Performance
MDT traded up $0.45 on Tuesday, reaching $92.38. 6,267,723 shares of the stock were exchanged, compared to its average volume of 10,821,911. The company’s 50-day moving average price is $90.38 and its 200 day moving average price is $84.80. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The firm has a market capitalization of $118.16 billion, a PE ratio of 22.73, a PEG ratio of 2.02 and a beta of 0.55.
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, sell-side analysts forecast that Medtronic PLC will post 5.98 EPS for the current fiscal year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio is currently 70.94%.
Insider Buying and Selling
In related news, EVP Harry Kiil sold 1,483 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.
About Medtronic
Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.
The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.
Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.
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