Medtronic PLC $MDT Shares Sold by Parthenon LLC

Parthenon LLC cut its stake in Medtronic PLC (NYSE:MDT) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,017 shares of the medical technology company’s stock after selling 7,786 shares during the period. Parthenon LLC’s holdings in Medtronic were worth $4,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Activest Wealth Management boosted its position in Medtronic by 470.9% in the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after buying an additional 259 shares during the period. IAG Wealth Partners LLC purchased a new position in shares of Medtronic during the second quarter worth approximately $30,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Medtronic during the second quarter worth approximately $32,000. Global Assets Advisory LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $36,000. Finally, Core Capital Management & Research inc. purchased a new stake in shares of Medtronic in the second quarter valued at approximately $33,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.1%

NYSE:MDT traded down $1.11 during trading hours on Friday, reaching $95.48. The company’s stock had a trading volume of 6,008,744 shares, compared to its average volume of 34,633,724. The company has a market capitalization of $122.13 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The stock has a 50 day moving average price of $91.43 and a two-hundred day moving average price of $85.30.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. Medtronic’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $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. Equities analysts predict that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction dated 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 owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the sale, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. The trade was a 15.25% 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. Insiders sold 61,903 shares of company stock worth $5,889,203 in the last three months. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDT. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Mizuho set a $115.00 target price on Medtronic in a research report on Wednesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $92.00 price target on shares of Medtronic in a research report on Thursday, September 3rd. Eighteen 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Medtronic Company 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.