Medtronic PLC $MDT Position Lifted by Kimelman & Baird LLC

Kimelman & Baird LLC grew its position in Medtronic PLC (NYSE:MDT) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,720 shares of the medical technology company’s stock after acquiring an additional 13,049 shares during the quarter. Kimelman & Baird LLC’s holdings in Medtronic were worth $15,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of Medtronic by 470.9% during the 3rd 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. Team Financial Group LLC bought a new position in Medtronic during the 3rd quarter valued at about $31,000. IAG Wealth Partners LLC bought a new position in Medtronic during the 2nd quarter valued at about $30,000. Pin Oak Investment Advisors Inc. bought a new position in Medtronic during the 2nd quarter valued at about $32,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Medtronic during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird upped their target price on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research note on Wednesday, September 2nd. UBS Group restated a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Finally, BTIG Research cut their price objective on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned 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 target price of $102.88.

Medtronic Trading Down 2.9%

Shares of MDT opened at $101.82 on Friday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a 50-day moving average of $92.70 and a 200 day moving average of $88.45. The firm has a market capitalization of $130.24 billion, a price-to-earnings ratio of 25.08, a PEG 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 issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’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 EPS. 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 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were issued 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 2.8%. Medtronic’s payout ratio is presently 70.94%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction 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 sale, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. This trade represents a 15.25% 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 valued at $5,889,203 over the last quarter. 0.27% of the stock is owned by corporate insiders.

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.