5,263 Shares of Medtronic PLC $MDT Bought by Interchange Capital Partners LLC

Interchange Capital Partners LLC bought a new position in Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,263 shares of the medical technology company’s stock, valued at approximately $454,000.

A number of other institutional investors have also recently bought and sold shares of MDT. BlackRock Inc. grew its stake in shares of Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after buying an additional 838,220 shares during the period. State Street Corp raised its position in shares of Medtronic by 2.7% in 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 buying an additional 1,658,301 shares during the period. Bank of America Corp DE raised its position in shares of Medtronic by 5.4% in 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 buying an additional 1,343,220 shares during the period. First Eagle Investment Management LLC raised its position in shares of Medtronic by 37.2% in the 2nd 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 buying an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new position in Medtronic in the first quarter valued at $965,922,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.6%

NYSE MDT opened at $96.55 on Friday. The company’s fifty day simple moving average is $91.70 and its 200-day simple moving average is $88.34. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. 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 stock has a market cap of $123.50 billion, a P/E ratio of 16.98, a PEG ratio of 2.27 and a beta of 0.55.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating 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 business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same period last year, the business earned $1.26 EPS. The business’s 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 predict that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction dated 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 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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 277,866 shares in the company, valued at approximately $26,397,270. The trade was 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. Over the last 90 days, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. Mizuho set a $115.00 price objective on Medtronic in a report on Wednesday, September 2nd. Stifel Nicolaus raised their price objective on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. BTIG Research reduced their price objective on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $92.00 target price on shares of Medtronic in a report on Thursday, September 3rd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

About Medtronic

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.