Brighton Jones LLC Buys 18,793 Shares of Medtronic PLC $MDT

Brighton Jones LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 86.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 40,425 shares of the medical technology company’s stock after buying an additional 18,793 shares during the quarter. Brighton Jones LLC’s holdings in Medtronic were worth $3,488,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management increased its stake in Medtronic by 470.9% in the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 259 shares during the period. IAG Wealth Partners LLC purchased a new position in shares of Medtronic during the second quarter worth approximately $30,000. Team Financial Group LLC bought a new stake in Medtronic during the 3rd quarter valued at $31,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Medtronic during the 2nd quarter worth $32,000. Finally, Community Bank N.A. purchased a new position in shares of Medtronic during the second quarter valued at $33,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, CEO Geoffrey Martha sold 50,000 shares of the stock in a transaction that occurred on 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 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 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 Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction that occurred on 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 sale, the executive vice president owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,903 shares of company stock worth $5,889,203 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Medtronic Stock Up 0.0%

Shares of MDT stock opened at $101.82 on Monday. The stock’s fifty day moving average price is $92.70 and its 200 day moving average price is $88.45. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a market cap of $130.24 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 2.38 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 released its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business 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, research analysts expect that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. Medtronic’s dividend payout ratio is 70.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial restated a “hold” rating and issued a $99.00 price target (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $92.00 price target on shares of Medtronic in a research report on Thursday, September 3rd. BTIG Research decreased their price objective on Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, October 12th. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Medtronic in a report on Wednesday, September 30th. Finally, Weiss Ratings raised shares of 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 issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

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.