Medtronic PLC $MDT Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its stake in Medtronic PLC (NYSE:MDT) by 10.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 211,300 shares of the medical technology company’s stock after selling 24,273 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Medtronic were worth $18,233,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. BlackRock Inc. raised its position in Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after acquiring an additional 838,220 shares during the period. State Street Corp grew its position in shares of Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares during the period. Bank of America Corp DE grew its position in shares of Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after purchasing an additional 1,343,220 shares during the period. First Eagle Investment Management LLC raised its position in shares of Medtronic by 37.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after purchasing an additional 3,739,288 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth about $965,922,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MDT shares. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Mizuho set a $115.00 price objective on Medtronic in a research note on Wednesday, September 2nd. Bank of America increased their target price on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Truist Financial reissued a “hold” rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Finally, Weiss Ratings upgraded Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Medtronic Price Performance

Shares of NYSE MDT opened at $95.48 on Friday. The firm has a 50-day simple moving average of $91.43 and a 200-day simple moving average of $85.30. The stock has a market capitalization of $122.13 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $1.26 earnings per share. 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, equities analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders 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 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio is presently 70.94%.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total value of $1,000,320.00. Following the transaction, the executive vice president directly owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,903 shares of company stock valued at $5,889,203 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Medtronic Profile

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.