311,002 Shares in Medtronic PLC $MDT Bought by Randolph Co Inc

Randolph Co Inc purchased a new stake in Medtronic PLC (NYSE:MDT) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 311,002 shares of the medical technology company’s stock, valued at approximately $26,836,000. Medtronic accounts for approximately 2.1% of Randolph Co Inc’s holdings, making the stock its 22nd biggest holding.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after acquiring an additional 838,220 shares during the period. State Street Corp lifted its position in Medtronic by 2.7% in the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after acquiring an additional 1,658,301 shares in the last quarter. Bank of America Corp DE lifted its position in 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 valued at $2,254,200,000 after acquiring an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in 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 purchasing an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new position in Medtronic in the 1st quarter worth $965,922,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $95.48 on Monday. The company’s fifty day simple moving average is $91.43 and its 200-day simple moving average is $85.29. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $122.13 billion, a PE ratio of 23.52, a P/E/G ratio of 2.23 and a beta of 0.55. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last released 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. 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 the consensus estimate of $9.55 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. 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 expect that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Mizuho set a $115.00 price target on Medtronic in a report on Wednesday, September 2nd. Robert W. Baird boosted their price target on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Weiss Ratings raised Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Finally, Wells Fargo & Company increased their price objective on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Insider Transactions at Medtronic

In related news, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the sale, the chief executive officer owned 277,866 shares in the company, valued at approximately $26,397,270. This represents a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president owned 42,186 shares in the company, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,903 shares of company stock worth $5,889,203 in the last three months. Insiders own 0.27% of the company’s stock.

Medtronic 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.