366,492 Shares of Medtronic PLC $MDT Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in Medtronic PLC (NYSE:MDT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 366,492 shares of the medical technology company’s stock, valued at approximately $31,625,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after acquiring an additional 838,220 shares in the last quarter. State Street Corp increased its holdings in Medtronic by 2.7% during the 2nd 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 during the period. Bank of America Corp DE increased its holdings in Medtronic by 5.4% during the 1st 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 raised its position in 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 valued at $1,078,321,000 after purchasing an additional 3,739,288 shares in the last quarter. Finally, WCM Investment Management LLC bought a new stake in Medtronic during the 1st quarter valued at $965,922,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at 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 on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,903 shares of company stock valued at $5,889,203 over the last 90 days. Insiders own 0.27% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $99.34 on Tuesday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The business’s 50 day moving average price is $91.82 and its 200 day moving average price is $88.36. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $127.08 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.22 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 analyst estimates of $9.55 billion. During the same period last year, the firm posted $1.26 EPS. Medtronic’s revenue for the quarter 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. On average, sell-side analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were paid a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is presently 70.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho set a $115.00 target price on Medtronic in a report on Wednesday, September 2nd. Robert W. Baird raised their price target on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Barclays upgraded Medtronic to a “hold” rating in a report on Wednesday, October 7th. Stifel Nicolaus upped their price objective on shares of Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, September 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

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.