Kestra Advisory Services LLC lifted its holdings in Medtronic PLC (NYSE:MDT – Free Report) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,756 shares of the medical technology company’s stock after acquiring an additional 8,859 shares during the quarter. Kestra Advisory Services LLC’s holdings in Medtronic were worth $36,480,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. WCM Investment Management LLC acquired a new position in Medtronic in the first quarter worth $965,922,000. First Eagle Investment Management LLC grew its holdings in shares of 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 worth $1,078,321,000 after purchasing an additional 3,739,288 shares during the last quarter. Cullen Capital Management LLC bought a new stake in shares of Medtronic during the second quarter worth $202,764,000. State Street Corp increased its stake 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 valued at $5,005,320,000 after buying an additional 1,658,301 shares in the last quarter. Finally, Amundi increased its stake 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 valued at $525,986,000 after buying an additional 1,616,739 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on MDT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $92.00 price target on shares of Medtronic in a research report on Thursday, September 3rd. Wells Fargo & Company raised their price objective on shares of Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Robert W. Baird raised their price objective 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. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $102.88.
View Our Latest Stock Report on MDT
Insider Transactions at Medtronic
In related news, EVP Michael Marinaro sold 10,420 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the completion of the sale, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 dated 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 directly owned 277,866 shares in the company, valued at $26,397,270. The trade was a 15.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last three months. Insiders own 0.27% of the company’s stock.
Medtronic Trading Down 2.9%
Shares of NYSE:MDT traded down $3.02 during trading on Friday, hitting $101.82. 7,451,083 shares of the company’s stock were exchanged, compared to its average volume of 27,950,256. 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 firm has a market cap of $130.24 billion, a P/E ratio of 25.08, a PEG ratio of 2.32 and a beta of 0.56. The firm has a 50-day moving average price of $92.70 and a two-hundred day moving average price of $88.45. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.
Medtronic (NYSE:MDT – Get Free Report) last announced its quarterly earnings data 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. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Medtronic’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 analysts predict that Medtronic PLC will post 5.98 earnings per share for the current year.
Medtronic Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is currently 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.
Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.
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