Root Financial Partners LLC Purchases 6,102 Shares of Medtronic PLC $MDT

Root Financial Partners LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,102 shares of the medical technology company’s stock, valued at approximately $527,000.

Several other institutional investors have also modified their holdings of MDT. BlackRock Inc. boosted its position in shares of Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after purchasing an additional 838,220 shares in the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE lifted its stake in Medtronic by 5.4% in the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after acquiring an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC grew its stake in 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 valued at $1,078,321,000 after acquiring an additional 3,739,288 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at about $965,922,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Mizuho set a $115.00 price objective on shares of Medtronic in a research report on Wednesday, September 2nd. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Medtronic in a research note on Wednesday, September 30th. Barclays upgraded shares of Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Finally, Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Insiders Place Their Bets

In other news, 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 transaction of $4,750,000.00. Following the transaction, the chief executive officer owned 277,866 shares in the company, valued at $26,397,270. This represents a 15.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of the firm’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 transaction, the executive vice president owned 105,916 shares in the company, valued at $10,167,936. This represents a 8.96% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $95.48 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock’s 50-day moving average is $91.43 and its two-hundred day moving average is $85.30. The firm has a market cap of $122.13 billion, a P/E ratio of 23.52, a PEG ratio of 2.26 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the business earned $1.26 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were paid a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is 70.94%.

Medtronic Profile

Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.