Medtronic PLC $MDT Stock Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its position in Medtronic PLC (NYSE:MDT) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 422,756 shares of the medical technology company’s stock after buying an additional 8,859 shares during the period. Kestra Advisory Services LLC’s holdings in Medtronic were worth $36,480,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings 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 in the last quarter. State Street Corp grew its stake in 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 acquiring an additional 1,658,301 shares during the period. Bank of America Corp DE increased its holdings 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 worth $2,254,200,000 after acquiring an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Medtronic by 37.2% in the second 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 acquiring an additional 3,739,288 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic during the first quarter worth about $965,922,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MDT shares. Mizuho set a $115.00 price objective on Medtronic in a report on Wednesday, September 2nd. Bank of America boosted their price objective on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Weiss Ratings raised Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Finally, BTIG Research cut their price target on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Insiders Place Their Bets

In other news, CEO Geoffrey Martha sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the transaction, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at $26,397,270. This trade represents a 15.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction 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. This trade represents a 8.96% decrease in their ownership of the stock. 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. Insiders sold a total of 61,903 shares of company stock valued at $5,889,203 in the last quarter. 0.27% of the stock is currently owned by insiders.

Medtronic Stock Down 2.9%

MDT stock traded down $3.02 during trading hours on Friday, reaching $101.82. 7,451,083 shares of the stock were exchanged, compared to its average volume of 27,950,256. The firm’s 50-day moving average is $92.70 and its 200-day moving average is $88.45. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a market cap of $130.24 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 company had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. Medtronic’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $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 research analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%. Medtronic’s dividend payout ratio is 70.94%.

About Medtronic

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.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.