Sawyer & Company Inc Makes New Investment in Medtronic PLC $MDT

Sawyer & Company Inc acquired a new position in Medtronic PLC (NYSE:MDT) during the third quarter, Holdings Channel.com reports. The firm acquired 21,750 shares of the medical technology company’s stock, valued at approximately $1,877,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management grew its stake in shares of Medtronic by 470.9% during the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 259 shares in the last quarter. IAG Wealth Partners LLC acquired a new position in shares of Medtronic in the second quarter worth about $30,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Medtronic in the second quarter worth about $32,000. Community Bank N.A. acquired a new position in shares of Medtronic in the second quarter worth about $33,000. Finally, Core Capital Management & Research inc. purchased a new position in Medtronic in the second quarter valued at about $33,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Truist Financial reiterated a “hold” rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a research note on Wednesday, September 2nd. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, September 30th. Wells Fargo & Company raised their price objective on shares of Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Finally, Evercore set a $105.00 target price on shares of Medtronic in a research report on Monday, July 6th. Eighteen investment 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. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Stock Performance

Shares of MDT traded down $1.07 during mid-day trading on Wednesday, reaching $93.56. 2,732,229 shares of the company’s stock traded hands, compared to its average volume of 11,439,542. The business’s 50-day moving average price is $91.18 and its 200-day moving average price is $85.11. The stock has a market capitalization of $119.68 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.17 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The business’s revenue 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. Equities analysts predict that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were given 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 was Friday, September 25th. Medtronic’s payout ratio is 70.94%.

Insider Transactions at Medtronic

In related news, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the sale, the executive vice president owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Geoffrey Martha sold 50,000 shares of the company’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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 61,903 shares of company stock valued at $5,889,203. 0.27% of the stock is currently owned by corporate insiders.

About Medtronic

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.