Medtronic PLC $MDT Shares Newly Bought by Walter Public Investments Inc.

Walter Public Investments Inc. purchased a new stake in Medtronic PLC (NYSE:MDT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 73,779 shares of the medical technology company’s stock, valued at approximately $6,366,000. Medtronic accounts for about 1.5% of Walter Public Investments Inc.’s portfolio, making the stock its 27th largest position.

Several other large investors have also recently made changes to their positions in the stock. First Command Advisory Services Inc. grew its stake in shares of Medtronic by 95.1% in the third quarter. First Command Advisory Services Inc. now owns 1,307 shares of the medical technology company’s stock valued at $114,000 after buying an additional 637 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Medtronic in the 3rd quarter valued at $3,904,000. Silver Grove Financial Group Inc. raised its holdings in shares of Medtronic by 18.3% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,214 shares of the medical technology company’s stock valued at $105,000 after buying an additional 188 shares during the period. Davis Investment Partners LLC raised its holdings in shares of Medtronic by 18.5% in the 3rd quarter. Davis Investment Partners LLC now owns 10,254 shares of the medical technology company’s stock valued at $885,000 after buying an additional 1,602 shares during the period. Finally, Bahl & Gaynor LLC lifted its stake in Medtronic by 1.6% during the 3rd quarter. Bahl & Gaynor LLC now owns 36,647 shares of the medical technology company’s stock worth $3,162,000 after acquiring an additional 565 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Latest Medtronic News

Here’s some of the latest news about MDT:

• Positive Sentiment: Medtronic launched a micro guidewire for neurovascular procedures, expanding its product offering in that market. Article: Medtronic launches micro guidewire for neurovascular procedures
• Positive Sentiment: Reported short interest fell 83.5% in October to about 22.95 million shares, or roughly 1.8% of shares outstanding. That suggests fewer investors were positioned for a decline, though short-interest data alone does not indicate future performance. Article: Medtronic PLC Shares Shorted: Short Interest Down 83.5% in October
• Negative Sentiment: Medtronic initiated two Class II recalls affecting cardiac products. The OmniaSecure 3930M lead recall cites possible difficulties with fixation during implantation, while a CareLink SmartSync Programmer software issue may cause inaccurate estimates of implanted-device battery life. The recalls raise potential concerns about product reliability and could create costs or reputational risk, although the reports do not quantify their financial impact. Article: What Is Medtronic Facing After Two Class II Cardiac Device Recalls?

Medtronic Stock Performance

NYSE:MDT opened at $101.64 on Thursday. The company has a fifty day simple moving average of $93.34 and a two-hundred day simple moving average of $88.46. The company has a market cap of $130.01 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. 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 PLC has a 52 week low of $73.31 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors 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 of this dividend was Friday, September 25th. Medtronic’s payout ratio is presently 70.94%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the company’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 sale, the executive vice president owned 42,186 shares in the company, valued at $3,950,718.90. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,000,320.00. Following the completion of the sale, 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 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 worth $5,889,203 in the last quarter. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on MDT shares. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Truist Financial reaffirmed a “hold” rating and issued a $99.00 target price (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Barclays raised Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. Finally, UBS Group reissued a “cautious” rating on shares of Medtronic in a research report on Wednesday, October 14th. Eighteen 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.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

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.