Thurston Springer Miller Herd & Titak Inc. Sells 6,229 Shares of Medtronic PLC $MDT

Thurston Springer Miller Herd & Titak Inc. trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 68.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,937 shares of the medical technology company’s stock after selling 6,229 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Medtronic were worth $253,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Gradient Investments LLC grew its position in shares of Medtronic by 3.9% in the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after acquiring an additional 18,509 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Medtronic by 14.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock valued at $12,918,000 after acquiring an additional 19,315 shares in the last quarter. Czech National Bank raised its position in shares of Medtronic by 4.7% during the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after acquiring an additional 16,292 shares in the last quarter. Worth Asset Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $1,056,000. Finally, Congress Asset Management Co. bought a new position in Medtronic during the third quarter worth $76,201,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced the final results of its exchange offer for MiniMed Group (Nasdaq: MMED), following the previously reported 18.3% proration rate. Finalizing the transaction may reduce uncertainty around the diabetes-device business and represents progress in Medtronic’s portfolio strategy. Medtronic Announces Final Results of MiniMed Group, Inc. Exchange Offer
• Positive Sentiment: Medtronic and Abbott are highlighted as long-standing “Dividend Kings.” Medtronic currently offers the higher income yield, which could support demand from income-oriented investors even though Abbott has increased its dividend at a faster pace. Medtronic Pays More Today. Abbott Raises Its Dividend Faster. Which Stock Wins?
• Neutral Sentiment: Industry research projects strong growth in mobile-health solutions and bioelectronic medicine through 2030-31. Medtronic is listed among key companies that could benefit, although the reports do not provide company-specific revenue or earnings estimates. mHealth Solutions Market Forecasts Growth
• Negative Sentiment: Medtronic’s short interest increased, indicating that more investors are positioning for potential downside. This can weigh on sentiment, although it may also create the possibility of short-covering if the company delivers favorable news. Medtronic Sees Significant Increase in Short Interest

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. Evercore set a $105.00 target price on shares of Medtronic in a research note on Monday, July 6th. UBS Group reissued a “cautious” rating on shares of Medtronic in a report on Wednesday. Bank of America raised their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Mizuho set a $115.00 price target on shares of Medtronic in a report on Wednesday, September 2nd. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $0.07 during trading on Wednesday, hitting $93.08. 5,123,456 shares of the company traded hands, compared to its average volume of 10,886,617. 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 fifty day moving average is $90.51 and its 200-day moving average is $84.84. The stock has a market capitalization of $119.06 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.09 and a beta of 0.55. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $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. As a group, 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 will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is presently 70.94%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by corporate insiders.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.