260,188 Medtronic PLC $MDT Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its position in shares of Medtronic PLC (NYSE:MDT) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,662,088 shares of the medical technology company’s stock after selling 260,188 shares during the period. Medtronic accounts for approximately 2.5% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 7th biggest position. Beutel Goodman & Co Ltd.’s holdings in Medtronic were worth $316,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. WCM Investment Management LLC acquired a new position in Medtronic during the 1st quarter worth $965,922,000. First Eagle Investment Management LLC boosted its holdings in Medtronic by 37.2% during 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 acquiring an additional 3,739,288 shares during the period. Cullen Capital Management LLC bought a new stake in Medtronic during the second quarter valued at about $202,764,000. State Street Corp grew its position 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 grew its position 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MDT shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research note on Wednesday, September 2nd. Bank of America increased their target price on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Mizuho set a $115.00 target price on Medtronic in a report on Wednesday, September 2nd. Stifel Nicolaus lifted their price target on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, September 2nd. Finally, Barclays raised Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.88.

Medtronic Price Performance

Shares of Medtronic stock opened at $102.73 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The company has a market cap of $131.41 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.46 and a beta of 0.56. The firm has a fifty day moving average price of $92.93 and a two-hundred day moving average price of $88.46. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

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

Medtronic Dividend Announcement

The company also recently announced 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 of this dividend was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is 70.94%.

Insider Buying and Selling

In related news, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. This trade represents 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 three months. 0.27% of the stock is owned by corporate insiders.

Medtronic Profile

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.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.