Citizens Financial Group Inc. RI Purchases 58,077 Shares of Medtronic PLC $MDT

Citizens Financial Group Inc. RI increased its position in Medtronic PLC (NYSE:MDT) by 70.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,351 shares of the medical technology company’s stock after acquiring an additional 58,077 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Medtronic were worth $12,111,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDT. Activest Wealth Management lifted its stake in Medtronic by 470.9% in the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 259 shares in the last quarter. IAG Wealth Partners LLC bought a new position in Medtronic in the 2nd quarter valued at $30,000. Pin Oak Investment Advisors Inc. bought a new position in Medtronic in the 2nd quarter valued at $32,000. Global Assets Advisory LLC bought a new position in Medtronic in the 1st quarter valued at $36,000. Finally, Core Capital Management & Research inc. purchased a new position in shares of Medtronic during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Marinaro sold 10,420 shares of Medtronic 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 sale, the executive vice president directly owned 105,916 shares of the company’s stock, valued at $10,167,936. This represents a 8.96% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is currently owned by corporate insiders.

Medtronic Trading Down 1.1%

Shares of MDT opened at $95.48 on Friday. The firm’s 50 day simple moving average is $91.43 and its 200 day simple moving average is $85.30. The company has a market capitalization of $122.13 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.23 and a beta of 0.55. 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 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (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 business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same period in the previous year, the business posted $1.26 earnings per share. Medtronic’s revenue for the quarter 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. Sell-side analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were given a dividend of $0.72 per share. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 70.94%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MDT shares. Bank of America upped their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Wells Fargo & Company increased their price objective on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Truist Financial reissued a “hold” rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a research note on Wednesday, September 2nd. UBS Group reissued a “cautious” rating on shares of Medtronic in a research note on Wednesday, October 14th. Finally, Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Wednesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

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.