Medtronic PLC $MDT Stock Sold by Cooke & Bieler LP

Cooke & Bieler LP lowered its stake in Medtronic PLC (NYSE:MDT) by 40.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 477,037 shares of the medical technology company’s stock after selling 322,171 shares during the period. Cooke & Bieler LP’s holdings in Medtronic were worth $41,164,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Activest Wealth Management increased its holdings in shares of Medtronic by 470.9% during the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 259 shares during the last quarter. IAG Wealth Partners LLC bought a new position in shares of Medtronic in the 2nd quarter valued at approximately $30,000. Pin Oak Investment Advisors Inc. acquired a new stake in Medtronic in the 2nd quarter worth approximately $32,000. Community Bank N.A. acquired a new stake in Medtronic in the 2nd quarter worth approximately $33,000. Finally, Core Capital Management & Research inc. acquired a new stake in Medtronic in the 2nd quarter worth approximately $33,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus upped their target price on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, September 2nd. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research report on Wednesday, October 14th. UBS Group restated a “cautious” rating on shares of Medtronic in a research note on Wednesday, October 14th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Medtronic in a research note on Wednesday, September 30th. Finally, Truist Financial reaffirmed a “hold” rating and set a $99.00 price objective (up from $86.00) on shares of 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 assigned a Sell rating to the stock. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Medtronic Trading Down 1.7%

Shares of NYSE:MDT opened at $93.05 on Thursday. The company has a market cap of $119.02 billion, a P/E ratio of 22.92, a P/E/G ratio of 2.21 and a beta of 0.55. The stock’s 50-day moving average is $91.23 and its 200-day moving average is $85.16. Medtronic PLC has a 52-week low of $73.31 and a 52-week 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.

Medtronic (NYSE:MDT) last posted 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 for the quarter, compared to analyst estimates of $9.55 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The firm’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. Equities research analysts predict that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were issued a $0.72 dividend. 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 3.1%. Medtronic’s dividend payout ratio (DPR) is 70.94%.

Insider Buying and Selling at Medtronic

In other news, EVP Michael Marinaro sold 10,420 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 105,916 shares in the company, valued at $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,903 shares of company stock valued at $5,889,203 in the last 90 days. 0.27% of the stock is currently owned by insiders.

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.