Medtronic PLC $MDT Stock Acquired by Ethic Inc.

Ethic Inc. grew its position in Medtronic PLC (NYSE:MDT) by 21.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 192,815 shares of the medical technology company’s stock after purchasing an additional 34,348 shares during the quarter. Ethic Inc.’s holdings in Medtronic were worth $16,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Genesis Private Wealth LLC grew its holdings in shares of Medtronic by 2.0% during the third quarter. Genesis Private Wealth LLC now owns 5,170 shares of the medical technology company’s stock valued at $446,000 after buying an additional 103 shares during the last quarter. LightSquare Wealth Management LLC increased its position in shares of Medtronic by 3.6% during the third quarter. LightSquare Wealth Management LLC now owns 2,932 shares of the medical technology company’s stock valued at $253,000 after acquiring an additional 103 shares in the last quarter. Kennebec Savings Bank raised its holdings in Medtronic by 1.2% in the 3rd quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company’s stock worth $794,000 after acquiring an additional 110 shares during the last quarter. Petredis Investment Advisors LLC raised its holdings in Medtronic by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock worth $2,275,000 after acquiring an additional 114 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in Medtronic by 2.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company’s stock worth $472,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $101.82 on Friday. The firm’s 50-day moving average price is $92.70 and its 200-day moving average price is $88.45. 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 company has a market cap of $130.24 billion, a PE ratio of 25.08, a PEG ratio of 2.38 and a beta of 0.56. 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 results 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 net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The business’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. As a group, analysts anticipate that Medtronic PLC will post 5.98 EPS for the current 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 issued a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Insider Buying and Selling

In other Medtronic 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 transaction 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 approximately $10,167,936. The trade was a 8.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock in a transaction on 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 transaction, the chief executive officer directly owned 277,866 shares in the company, valued at $26,397,270. The trade was a 15.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on MDT. Mizuho set a $115.00 price objective on Medtronic in a research report on Wednesday, September 2nd. Weiss Ratings raised Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. Robert W. Baird boosted their price target on Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Barclays upgraded Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Finally, Truist Financial reaffirmed a “hold” rating and set a $99.00 price target (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Company 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.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.