Randolph Co Inc Buys 311,002 Shares of Medtronic PLC $MDT

Randolph Co Inc bought a new stake in Medtronic PLC (NYSE:MDT) in the 3rd quarter, Holdings Channel reports. The firm bought 311,002 shares of the medical technology company’s stock, valued at approximately $26,836,000. Medtronic makes up approximately 2.1% of Randolph Co Inc’s portfolio, making the stock its 22nd largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC increased its stake in shares of Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after purchasing an additional 18,509 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Medtronic by 14.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock valued at $12,918,000 after purchasing an additional 19,315 shares during the period. Czech National Bank raised its holdings in shares of Medtronic by 4.7% in the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after purchasing an additional 16,292 shares during the period. Congress Asset Management Co. acquired a new stake in Medtronic in the 3rd quarter valued at about $76,201,000. Finally, Worth Asset Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at about $1,056,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on MDT shares. Weiss Ratings upgraded Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research note on Wednesday, September 2nd. Barclays upgraded Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Finally, Wells Fargo & Company lifted their target price on 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Medtronic Price Performance

Shares of MDT opened at $95.48 on Monday. The company’s 50-day moving average is $91.43 and its 200-day moving average is $85.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The firm has a market capitalization of $122.13 billion, a PE ratio of 23.52, a PEG ratio of 2.23 and a beta of 0.55. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion during 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%. Medtronic’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. Equities analysts forecast that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio is currently 70.94%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the sale, the executive vice president owned 105,916 shares of the company’s stock, valued at approximately $10,167,936. This represents a 8.96% decrease in their position. 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 sold 61,903 shares of company stock worth $5,889,203 over the last three months. Insiders own 0.27% of the company’s stock.

Medtronic Company 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.