Medtronic PLC $MDT Stock: Commonwealth Equity Services LLC Raises Holdings

Commonwealth Equity Services LLC lifted its holdings in Medtronic PLC (NYSE:MDT) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 572,557 shares of the medical technology company’s stock after buying an additional 21,134 shares during the period. Commonwealth Equity Services LLC’s holdings in Medtronic were worth $49,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Kennebec Savings Bank boosted its position in shares of Medtronic by 1.2% during the 3rd quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company’s stock valued at $794,000 after purchasing an additional 110 shares in the last quarter. Petredis Investment Advisors LLC grew its stake in Medtronic by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock worth $2,275,000 after purchasing an additional 114 shares during the period. Aviance Capital Partners LLC grew its stake in Medtronic by 2.1% during the third quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company’s stock worth $472,000 after purchasing an additional 114 shares during the period. Arlington Trust Co LLC grew its stake in Medtronic by 11.6% during the second quarter. Arlington Trust Co LLC now owns 1,157 shares of the medical technology company’s stock worth $91,000 after purchasing an additional 120 shares during the period. Finally, Bank & Trust Co increased its holdings in Medtronic by 2.8% in the second quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company’s stock worth $342,000 after purchasing an additional 121 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 105,916 shares in the company, valued at $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the business’s 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 sale, the executive vice president owned 42,186 shares of the company’s stock, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 61,903 shares of company stock worth $5,889,203. Corporate insiders own 0.27% of the company’s stock.

Medtronic Price Performance

MDT stock opened at $101.82 on Friday. The stock has a market capitalization of $130.24 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The company’s 50-day moving average is $92.70 and its 200-day moving average is $88.45. 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 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 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 posted $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. Equities research analysts expect that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were issued a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio is presently 70.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MDT shares. Bank of America boosted their price target on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Medtronic in a report on Wednesday, September 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Finally, Weiss Ratings upgraded shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Eighteen equities 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.88.

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.