Machina Capital S.A.S. Buys 45,239 Shares of Medtronic PLC $MDT

Machina Capital S.A.S. purchased a new position in shares of Medtronic PLC (NYSE:MDT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,239 shares of the medical technology company’s stock, valued at approximately $3,904,000.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares in the last quarter. State Street Corp raised its position 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 worth $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE lifted its stake in Medtronic by 5.4% during 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 purchasing an additional 1,343,220 shares during the period. First Eagle Investment Management LLC lifted its stake in Medtronic by 37.2% during 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 purchasing an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in Medtronic during the first quarter valued at approximately $965,922,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Key Headlines Impacting Medtronic

These are some of the MDT headlines that stood out recently:

• Positive Sentiment: Medtronic launched a micro guidewire for neurovascular procedures, expanding its product offering in that market. Article: Medtronic launches micro guidewire for neurovascular procedures
• Positive Sentiment: Reported short interest fell 83.5% in October to about 22.95 million shares, or roughly 1.8% of shares outstanding. That suggests fewer investors were positioned for a decline, though short-interest data alone does not indicate future performance. Article: Medtronic PLC Shares Shorted: Short Interest Down 83.5% in October
• Negative Sentiment: Medtronic initiated two Class II recalls affecting cardiac products. The OmniaSecure 3930M lead recall cites possible difficulties with fixation during implantation, while a CareLink SmartSync Programmer software issue may cause inaccurate estimates of implanted-device battery life. The recalls raise potential concerns about product reliability and could create costs or reputational risk, although the reports do not quantify their financial impact. Article: What Is Medtronic Facing After Two Class II Cardiac Device Recalls?

Insider Transactions at Medtronic

In other news, 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 value of $1,000,320.00. Following the completion of the transaction, the executive vice president owned 105,916 shares in the company, valued at approximately $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 61,903 shares of company stock valued at $5,889,203. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. UBS Group reissued a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Bank of America raised their target price on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research note on Thursday, September 17th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Medtronic Stock Up 0.0%

MDT opened at $101.64 on Thursday. The firm has a market cap of $130.01 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.38 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The firm’s 50-day simple moving average is $93.34 and its 200-day simple moving average is $88.46. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the firm posted $1.26 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

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