Calamos Advisors LLC Acquires 6,087 Shares of Medtronic PLC $MDT

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

Several other institutional investors have also recently bought and sold shares of the business. Activest Wealth Management increased its stake in shares of Medtronic by 470.9% in the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after buying an additional 259 shares in the last quarter. IAG Wealth Partners LLC bought a new stake in Medtronic during the 2nd quarter worth about $30,000. Team Financial Group LLC acquired a new stake in Medtronic in the 3rd quarter valued at about $31,000. Pin Oak Investment Advisors Inc. acquired a new stake in Medtronic in the 2nd quarter valued at about $32,000. Finally, Community Bank N.A. acquired a new position in shares of Medtronic during the second quarter worth approximately $33,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other news, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the transaction, the executive vice president directly owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction 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 owned 42,186 shares of the company’s stock, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is currently owned by company insiders.

Medtronic Trading Down 2.9%

Shares of Medtronic stock traded down $3.02 during trading on Friday, reaching $101.82. 7,451,083 shares of the company were exchanged, compared to its average volume of 27,950,256. The business has a 50-day moving average price of $92.70 and a 200-day moving average price of $88.45. The firm has a market capitalization of $130.24 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 2.32 and a beta of 0.56. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business 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. Sell-side analysts anticipate 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. Investors of record on Friday, September 25th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%. Medtronic’s payout ratio is currently 70.94%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDT. Robert W. Baird boosted their price objective on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Mizuho set a $115.00 price objective on Medtronic in a research report on Wednesday, September 2nd. Finally, Bank of America lifted their price objective on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. 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’s stock. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price 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.