72,422 Medtronic PLC $MDT Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lessened its holdings in Medtronic PLC (NYSE:MDT) by 8.9% in the third quarter, Holdings Channel reports. The institutional investor owned 736,877 shares of the medical technology company’s stock after selling 72,422 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Medtronic were worth $63,594,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Gradient Investments LLC grew its holdings in Medtronic by 3.9% during 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 during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Medtronic by 14.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock worth $12,918,000 after purchasing an additional 19,315 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Medtronic during the third quarter valued at about $76,201,000. Worth Asset Management LLC acquired a new position in Medtronic during the 3rd quarter valued at about $1,056,000. Finally, Czech National Bank grew its stake in shares of Medtronic by 4.7% in the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after acquiring an additional 16,292 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDT. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Sunday, November 8th. 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. BTIG Research dropped their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research note 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, October 19th. Eighteen equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Insider Activity at Medtronic

In related news, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the completion of the sale, the executive vice president owned 105,916 shares in the company, valued at $10,167,936. The trade was a 8.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value 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 approximately $26,397,270. This represents 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. In the last three months, insiders have sold 61,903 shares of company stock valued at $5,889,203. Corporate insiders own 0.27% of the company’s stock.

Medtronic Stock Down 0.6%

MDT stock opened at $100.96 on Friday. The company’s 50 day moving average is $93.52 and its 200 day moving average is $88.46. 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 $129.14 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company 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 EPS. The firm’s 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. Sell-side analysts predict that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Medtronic Profile

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products. The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.