6,958 Medtronic PLC $MDT Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 32.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,429 shares of the medical technology company’s stock after acquiring an additional 6,958 shares during the period. Ritholtz Wealth Management’s holdings in Medtronic were worth $2,453,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Activest Wealth Management grew its holdings in Medtronic by 470.9% in the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 259 shares during the period. Team Financial Group LLC acquired a new position in Medtronic during the third quarter worth approximately $31,000. Avion Wealth increased its position in Medtronic by 97.8% during the third quarter. Avion Wealth now owns 362 shares of the medical technology company’s stock worth $31,000 after purchasing an additional 179 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in Medtronic during the second quarter worth approximately $30,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in Medtronic during the second quarter worth approximately $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 transaction, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the transaction, the executive vice president owned 105,916 shares in the company, valued at $10,167,936. The trade was a 8.96% decrease in their position. 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

A number of equities analysts have weighed in on MDT shares. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Sunday, November 8th. Bank of America upped their price objective on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, September 30th. Wells Fargo & Company increased 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. Finally, Robert W. Baird lifted their target price on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Eighteen equities 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’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Medtronic Trading Up 1.8%

Shares of NYSE:MDT traded up $1.85 during trading on Friday, reaching $102.84. 5,257,133 shares of the stock were exchanged, compared to its average volume of 10,182,103. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market cap of $131.54 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 2.36 and a beta of 0.56. The firm’s 50-day moving average price is $93.72 and its 200 day moving average price is $88.47.

Medtronic (NYSE:MDT) last posted 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 during the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The company’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. On average, sell-side analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, September 25th. Medtronic’s payout ratio is currently 70.94%.

Medtronic Company 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.