Carnegie Lake Advisors LLC lessened its position in shares of Medtronic PLC (NYSE:MDT – Free Report) by 64.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,870 shares of the medical technology company’s stock after selling 7,136 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Medtronic were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. WCM Investment Management LLC acquired a new position in shares of Medtronic in the first quarter valued at $965,922,000. First Eagle Investment Management LLC boosted its stake in 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 buying an additional 3,739,288 shares in the last quarter. Cullen Capital Management LLC acquired a new stake in Medtronic during the second quarter worth $202,764,000. State Street Corp increased its holdings in Medtronic by 2.7% in the 2nd 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 during the period. Finally, Amundi increased its holdings in Medtronic by 36.3% in the 1st 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 during the period. 82.06% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on MDT. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, September 30th. BTIG Research lowered their target price on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Weiss Ratings raised shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Mizuho set a $115.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. Finally, UBS Group restated a “cautious” rating on shares of Medtronic in a research note on Wednesday, October 14th. Eighteen 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 data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $102.88.
Get Our Latest Stock Analysis on Medtronic
Medtronic Stock Performance
Medtronic stock opened at $101.82 on Monday. 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 stock has a fifty day moving average price of $92.70 and a two-hundred day moving average price of $88.45. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The firm has a market capitalization of $130.24 billion, a P/E ratio of 25.08, a P/E/G ratio of 2.38 and a beta of 0.56.
Medtronic (NYSE:MDT – Get Free Report) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS 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 company had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The firm’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 anticipate that Medtronic PLC will post 5.98 EPS for the current fiscal year.
Medtronic Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were issued a dividend of $0.72 per share. 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 (DPR) is currently 70.94%.
Insider Activity at Medtronic
In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Geoffrey Martha sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the sale, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at approximately $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 sold 61,903 shares of company stock valued at $5,889,203 in the last ninety days. Insiders own 0.27% of the company’s stock.
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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