5,745 Medtronic PLC $MDT Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its position in Medtronic PLC (NYSE:MDT) by 37.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,546 shares of the medical technology company’s stock after selling 5,745 shares during the quarter. International Assets Investment Management LLC’s holdings in Medtronic were worth $825,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MDT. Activest Wealth Management lifted its stake 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 worth $27,000 after acquiring an additional 259 shares during the last quarter. Team Financial Group LLC bought a new position in Medtronic in the 3rd quarter valued at $31,000. IAG Wealth Partners LLC bought a new position in Medtronic in the 2nd quarter valued at $30,000. Pin Oak Investment Advisors Inc. purchased a new stake in Medtronic in the second quarter worth $32,000. Finally, Global Assets Advisory LLC purchased a new stake in Medtronic in the first quarter worth $36,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MDT shares. Stifel Nicolaus lifted 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. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group reaffirmed a “cautious” 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 note on Thursday, September 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the stock in a transaction dated 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 directly owned 105,916 shares in the company, valued at $10,167,936. This represents a 8.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the firm’s 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 transaction, the chief executive officer directly owned 277,866 shares in the company, valued at $26,397,270. This trade represents a 15.25% decrease in their position. The SEC filing for this sale provides additional information. 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 worth $5,889,203 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $102.73 on Tuesday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market capitalization of $131.41 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 2.46 and a beta of 0.56. The stock has a fifty day simple moving average of $92.93 and a two-hundred day simple moving average of $88.46. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last posted its quarterly 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. The business had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. 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, analysts predict that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were paid 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 2.8%. Medtronic’s dividend payout ratio is 70.94%.

About Medtronic

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.