Medtronic PLC $MDT Shares Newly Bought by MBL Wealth LLC

MBL Wealth LLC purchased a new stake in Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,247 shares of the medical technology company’s stock, valued at approximately $625,000.

Other large investors have also added to or reduced their stakes in the company. Gradient Investments LLC lifted its holdings in shares of Medtronic by 3.9% in the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after purchasing an additional 18,509 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Medtronic by 14.8% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock valued at $12,918,000 after buying an additional 19,315 shares during the last quarter. Czech National Bank boosted its position in shares of Medtronic by 4.7% during the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after buying an additional 16,292 shares during the last quarter. Worth Asset Management LLC bought a new stake in Medtronic during the third quarter worth $1,056,000. Finally, Congress Asset Management Co. bought a new stake in Medtronic during the third quarter worth $76,201,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT traded down $1.11 on Friday, reaching $95.48. 6,008,744 shares of the company’s stock traded hands, compared to its average volume of 34,633,724. 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 stock has a market cap of $122.13 billion, a PE ratio of 23.52, a PEG ratio of 2.26 and a beta of 0.55. The stock’s 50 day simple moving average is $91.43 and its two-hundred day simple moving average is $85.30. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last issued 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 return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same period last year, the company posted $1.26 earnings per share. Medtronic’s quarterly revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on MDT shares. Truist Financial reissued a “hold” rating and issued a $99.00 price target (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Insider Transactions at Medtronic

In related news, 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 transaction, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. The trade was a 15.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the completion of the transaction, the executive vice president directly owned 105,916 shares in the company, valued at $10,167,936. This trade represents a 8.96% 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. Insiders have sold 61,903 shares of company stock worth $5,889,203 in the last ninety days. Company insiders own 0.27% of the company’s stock.

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.