5,770 Medtronic PLC $MDT Shares Purchased by Quadrant Capital Group LLC

Quadrant Capital Group LLC boosted its holdings in Medtronic PLC (NYSE:MDT) by 109.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,063 shares of the medical technology company’s stock after purchasing an additional 5,770 shares during the period. Quadrant Capital Group LLC’s holdings in Medtronic were worth $1,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Activest Wealth Management grew its position in shares of Medtronic by 470.9% during the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock worth $27,000 after buying an additional 259 shares in the last quarter. IAG Wealth Partners LLC bought a new position in Medtronic during the 2nd quarter valued at $30,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Medtronic in the 2nd quarter worth about $32,000. Global Assets Advisory LLC acquired a new position in Medtronic in the first quarter worth about $36,000. Finally, Core Capital Management & Research inc. acquired a new position in Medtronic in the second quarter worth about $33,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $95.48 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $91.43 and its two-hundred day moving average price is $85.30. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a market capitalization of $122.13 billion, a P/E ratio of 16.89, a P/E/G ratio of 2.26 and a beta of 0.55.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. Medtronic’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. 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 forecast that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors 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 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is currently 70.94%.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the sale, the executive vice president directly owned 105,916 shares in the company, valued at approximately $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 277,866 shares in the company, valued at $26,397,270. The trade was a 15.25% decrease in their ownership of the stock. 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 worth $5,889,203 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MDT shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $92.00 price objective on shares of Medtronic in a research note on Thursday, September 3rd. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Wells Fargo & Company lifted their target price on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Bank of America boosted their price target on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. 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. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target 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.