Medtronic PLC $MDT Stock Acquired by Diversified Trust Co

Diversified Trust Co raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 115,378 shares of the medical technology company’s stock after purchasing an additional 14,720 shares during the period. Diversified Trust Co’s holdings in Medtronic were worth $9,956,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares during the last quarter. State Street Corp lifted its holdings in shares of Medtronic by 2.7% during the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Medtronic by 5.4% during the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after purchasing an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Medtronic by 37.2% during the second 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 position in shares of Medtronic during the first quarter valued at $965,922,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 10,420 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the completion of the sale, the executive vice president 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the stock in a transaction dated 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. This represents a 15.25% decrease in their position. 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. Insiders sold 61,903 shares of company stock valued at $5,889,203 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Mizuho set a $115.00 price objective on Medtronic in a research report on Wednesday, September 2nd. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Sunday, November 8th. UBS Group reissued a “cautious” rating on shares of Medtronic in a research report on Wednesday, October 14th. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Medtronic in a research note on Wednesday, September 30th. Finally, Bank of America raised their price target on shares of Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.88.

Medtronic Trading Up 1.8%

NYSE:MDT opened at $102.84 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a market cap of $131.54 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.36 and a beta of 0.56. The company has a 50 day simple moving average of $93.72 and a two-hundred day simple moving average of $88.47.

Medtronic (NYSE:MDT) last announced its 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. The business had revenue of $9.76 billion during 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 quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business 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. Research analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. Medtronic’s payout ratio is presently 70.94%.

About Medtronic

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.