Medtronic PLC $MDT Stock: Vest Financial LLC Increases Position

Vest Financial LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 0.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 639,468 shares of the medical technology company’s stock after acquiring an additional 5,748 shares during the period. Vest Financial LLC’s holdings in Medtronic were worth $55,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in Medtronic by 2.0% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 167,041 shares of the medical technology company’s stock valued at $14,414,000 after purchasing an additional 3,243 shares during the last quarter. White Lighthouse Investment Management Inc. grew its position in shares of Medtronic by 25.9% during the third quarter. White Lighthouse Investment Management Inc. now owns 3,390 shares of the medical technology company’s stock worth $293,000 after buying an additional 698 shares in the last quarter. AMG Asset Management Group Inc. grew its position in shares of Medtronic by 5.7% during the third quarter. AMG Asset Management Group Inc. now owns 2,869 shares of the medical technology company’s stock worth $248,000 after buying an additional 154 shares in the last quarter. Trifecta Capital Advisors LLC bought a new stake in shares of Medtronic in the third quarter worth $84,000. Finally, Albion Financial Group UT increased its stake in shares of Medtronic by 8.0% in the third quarter. Albion Financial Group UT now owns 68,300 shares of the medical technology company’s stock worth $5,894,000 after buying an additional 5,064 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $95.00, for a total value of $4,750,000.00. Following the completion of the transaction, the chief executive officer owned 277,866 shares in the company, valued at approximately $26,397,270. This represents a 15.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of Medtronic 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 directly owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,903 shares of company stock worth $5,889,203 in the last ninety days. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial reaffirmed a “hold” rating and issued a $99.00 price target (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, September 30th. Barclays raised shares of Medtronic to a “hold” rating in a report on Wednesday, October 7th. BTIG Research dropped their target price on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, Mizuho set a $115.00 target price on shares of Medtronic in a research note on Wednesday, September 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Medtronic Price Performance

MDT opened at $93.05 on Thursday. The firm has a market cap of $119.02 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.55. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company’s 50-day moving average price is $91.23 and its 200 day moving average price is $85.16. 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 issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. During the same quarter last year, the company posted $1.26 earnings per share. Medtronic’s 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. As a group, sell-side analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 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.