10,512 Medtronic PLC $MDT Shares Sold by R Squared Ltd

R Squared Ltd cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 51.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,105 shares of the medical technology company’s stock after selling 10,512 shares during the quarter. R Squared Ltd’s holdings in Medtronic were worth $872,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WCM Investment Management LLC purchased a new position in Medtronic in the 1st quarter worth approximately $965,922,000. First Eagle Investment Management LLC grew its position in shares of Medtronic by 37.2% in the second 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 purchasing an additional 3,739,288 shares in the last quarter. Cullen Capital Management LLC purchased a new stake in shares of Medtronic in the second quarter valued at approximately $202,764,000. State Street Corp increased 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 during the last quarter. Finally, Amundi increased its holdings 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 purchasing an additional 1,616,739 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of Medtronic stock opened at $100.96 on Friday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The business’s fifty day simple moving average is $93.52 and its 200-day simple moving average is $88.46. The firm has a market cap of $129.14 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.55 billion. During the same period last year, the business earned $1.26 earnings per share. The business’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. Equities analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were given a $0.72 dividend. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.9%. Medtronic’s payout ratio is presently 70.94%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the company’s 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 transaction, the executive vice president directly owned 105,916 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the transaction, the chief executive officer directly owned 277,866 shares in the company, valued at approximately $26,397,270. The trade was a 15.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,903 shares of company stock valued at $5,889,203 over the last quarter. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MDT. Wells Fargo & Company lifted 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. BTIG Research dropped their target price on Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a report on Monday, October 12th. Weiss Ratings upgraded Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. Robert W. Baird raised their target price on Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Finally, Barclays upgraded Medtronic to a “hold” rating in a report on Wednesday, October 7th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

About Medtronic

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.