Medtronic Target of Unusually High Options Trading (NYSE:MDT)

Medtronic PLC (NYSE:MDT) was the recipient of unusually large options trading on Tuesday. Stock investors bought 16,012 call options on the stock. This is an increase of approximately 38% compared to the typical volume of 11,621 call options.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Medtronic in the 2nd quarter worth about $1,432,698,000. Boston Partners boosted its holdings in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after buying an additional 3,809,450 shares during the period. Barclays PLC lifted its position in shares of Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after acquiring an additional 3,492,192 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after purchasing an additional 3,307,211 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 5.6%

NYSE MDT traded up $5.35 during mid-day trading on Tuesday, hitting $101.63. The company’s stock had a trading volume of 9,833,513 shares, compared to its average volume of 7,450,957. The firm has a market capitalization of $130.35 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.77. The company’s 50 day simple moving average is $94.51 and its 200 day simple moving average is $90.52. Medtronic has a twelve month low of $79.29 and a twelve month high of $102.48. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts anticipate that Medtronic will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Cowen restated a “buy” rating on shares of Medtronic in a research report on Friday. Argus raised their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. The Goldman Sachs Group lowered their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Finally, Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.06.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.