Medtronic PLC $MDT Stake Decreased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its stake in Medtronic PLC (NYSE:MDT) by 2.9% during the third quarter, Holdings Channel.com reports. The fund owned 177,789 shares of the medical technology company’s stock after selling 5,289 shares during the period. Oppenheimer & Co. Inc.’s holdings in Medtronic were worth $15,341,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Activest Wealth Management lifted its stake in 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 in the last quarter. IAG Wealth Partners LLC acquired a new position in Medtronic in the 2nd quarter valued at about $30,000. Pin Oak Investment Advisors Inc. acquired a new position in Medtronic in the 2nd quarter valued at about $32,000. Community Bank N.A. purchased a new stake in Medtronic during the second quarter worth about $33,000. Finally, Core Capital Management & Research inc. purchased a new stake in Medtronic during the second quarter worth about $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.7%

Shares of NYSE:MDT opened at $94.72 on Tuesday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company’s 50 day moving average is $91.37 and its two-hundred day moving average is $88.43. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The company has a market cap of $121.17 billion, a PE ratio of 23.33, a P/E/G ratio of 2.23 and a beta of 0.55.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic’s payout ratio is currently 70.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays raised shares of Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research note on Wednesday, September 2nd. Bank of America upped their target price on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Stifel Nicolaus increased their target price on shares of Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. Finally, Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research report on Wednesday, October 14th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.88.

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $95.00, for a total value 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 61,903 shares of company stock worth $5,889,203. 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.