Medtronic PLC $MDT Stock Position Boosted by Calamos Advisors LLC

Calamos Advisors LLC raised its position in Medtronic PLC (NYSE:MDT) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 431,920 shares of the medical technology company’s stock after purchasing an additional 6,087 shares during the quarter. Calamos Advisors LLC’s holdings in Medtronic were worth $37,270,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MDT. Alta Advisers Ltd raised its holdings in shares of Medtronic by 82.8% in the third quarter. Alta Advisers Ltd now owns 9,113 shares of the medical technology company’s stock valued at $786,000 after purchasing an additional 4,128 shares during the last quarter. Kestra Advisory Services LLC increased its stake in Medtronic by 2.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 422,756 shares of the medical technology company’s stock valued at $36,480,000 after buying an additional 8,859 shares during the last quarter. Telos Capital Management Inc. increased its stake in Medtronic by 1.2% in the 3rd quarter. Telos Capital Management Inc. now owns 69,725 shares of the medical technology company’s stock valued at $6,017,000 after buying an additional 798 shares during the last quarter. Genesis Private Wealth LLC lifted its position in Medtronic by 2.0% during the 3rd quarter. Genesis Private Wealth LLC now owns 5,170 shares of the medical technology company’s stock worth $446,000 after buying an additional 103 shares in the last quarter. Finally, Valtinson Bruner Financial Planning LLC lifted its position in Medtronic by 0.8% during the 3rd quarter. Valtinson Bruner Financial Planning LLC now owns 16,662 shares of the medical technology company’s stock worth $1,438,000 after buying an additional 140 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at Medtronic

In related news, CEO Geoffrey Martha sold 50,000 shares of the business’s stock in a transaction 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 in the company, valued at $26,397,270. The trade was a 15.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 the company’s stock in a transaction 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 directly owned 105,916 shares in the company, valued at approximately $10,167,936. This 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. Over the last quarter, insiders have sold 61,903 shares of company stock worth $5,889,203. Company insiders own 0.27% of the company’s stock.

Medtronic Stock Performance

Shares of MDT traded down $3.02 during mid-day trading on Friday, reaching $101.82. The company’s stock had a trading volume of 7,451,083 shares, compared to its average volume of 27,950,256. 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 business has a 50-day simple moving average of $92.70 and a two-hundred day simple moving average of $88.45. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The stock has a market cap of $130.24 billion, a P/E ratio of 25.08, a PEG ratio of 2.32 and a beta of 0.56.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’s revenue was up 13.7% on a year-over-year basis. 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. As a group, equities research analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MDT shares. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. BTIG Research lowered their target price on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Barclays upgraded Medtronic to a “hold” rating in a report on Wednesday, October 7th. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Medtronic in a report on Wednesday, September 30th. Finally, Weiss Ratings raised Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Company 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.

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