Medtronic PLC $MDT Stock Bought by ProShare Advisors LLC

ProShare Advisors LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,231,555 shares of the medical technology company’s stock after acquiring an additional 48,688 shares during the quarter. ProShare Advisors LLC owned approximately 0.17% of Medtronic worth $192,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in MDT. Vise Technologies Inc. increased its stake in Medtronic by 4.1% in the third quarter. Vise Technologies Inc. now owns 57,325 shares of the medical technology company’s stock valued at $4,947,000 after purchasing an additional 2,268 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Medtronic by 5.7% during the third quarter. Cidel Asset Management Inc. now owns 13,161 shares of the medical technology company’s stock worth $1,136,000 after purchasing an additional 709 shares during the last quarter. Intrua Financial LLC boosted its position in shares of Medtronic by 2.1% in the 3rd quarter. Intrua Financial LLC now owns 11,354 shares of the medical technology company’s stock valued at $980,000 after purchasing an additional 237 shares during the period. Summit Global Investments grew its stake in Medtronic by 98.9% during the 3rd quarter. Summit Global Investments now owns 7,501 shares of the medical technology company’s stock worth $647,000 after buying an additional 3,730 shares during the last quarter. Finally, Americana Partners LLC lifted its stake in Medtronic by 7.4% in the third quarter. Americana Partners LLC now owns 68,392 shares of the medical technology company’s stock valued at $5,902,000 after buying an additional 4,724 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.6%

Shares of MDT opened at $96.55 on Friday. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company’s fifty day moving average is $91.70 and its two-hundred day moving average is $88.34. The firm has a market cap of $123.50 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55. 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 released its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the firm posted $1.26 EPS. 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. Analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

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

Insiders Place Their Bets

In other Medtronic news, CEO Geoffrey Martha sold 50,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $96.00, for a total value of $1,000,320.00. Following the sale, the executive vice president owned 105,916 shares in the company, valued at approximately $10,167,936. The trade was a 8.96% 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 a total of 61,903 shares of company stock worth $5,889,203 over the last ninety days. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

MDT has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $92.00 target price on shares of Medtronic in a report on Thursday, September 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 price target on shares of Medtronic in a report on Wednesday, September 2nd. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Finally, Mizuho set a $115.00 target price on Medtronic in a report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company 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.