17,357 Shares in Medtronic PLC $MDT Purchased by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. purchased a new stake in Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,357 shares of the medical technology company’s stock, valued at approximately $1,498,000. Medtronic accounts for about 1.0% of Total Wealth Planning & Management Inc.’s holdings, making the stock its 16th largest holding.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after buying an additional 838,220 shares during the period. State Street Corp increased 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 worth $5,005,320,000 after acquiring an additional 1,658,301 shares in the last quarter. Bank of America Corp DE increased its position in shares of Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after acquiring an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Medtronic by 37.2% in the 2nd 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. Finally, WCM Investment Management LLC purchased a new position in shares of Medtronic in the 1st quarter valued at $965,922,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $95.48 on Monday. The firm has a market cap of $122.13 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.23 and a beta of 0.55. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $91.43 and its two-hundred day moving average is $85.29. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

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

Medtronic Announces Dividend

The business 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 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the firm’s 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 completion of the transaction, the executive vice president directly owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade 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 business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the sale, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at $26,397,270. The trade was 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 61,903 shares of company stock worth $5,889,203 in the last ninety days. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Evercore set a $105.00 price target on Medtronic in a report on Monday, July 6th. Barclays upgraded Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Medtronic in a research report on Wednesday, September 30th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $102.88.

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.