Medtronic PLC $MDT Stock: Choreo LLC Raises Position

Choreo LLC grew its stake in Medtronic PLC (NYSE:MDT) by 15.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 48,962 shares of the medical technology company’s stock after buying an additional 6,564 shares during the quarter. Choreo LLC’s holdings in Medtronic were worth $4,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kennebec Savings Bank increased its stake in shares of Medtronic by 1.2% during the third quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company’s stock worth $794,000 after buying an additional 110 shares during the period. Petredis Investment Advisors LLC lifted its stake in Medtronic by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock worth $2,275,000 after acquiring an additional 114 shares during the last quarter. Arlington Trust Co LLC lifted its stake in Medtronic by 11.6% in the second quarter. Arlington Trust Co LLC now owns 1,157 shares of the medical technology company’s stock worth $91,000 after acquiring an additional 120 shares during the last quarter. Bank & Trust Co lifted its stake in Medtronic by 2.8% in the second quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company’s stock worth $342,000 after acquiring an additional 121 shares during the last quarter. Finally, One Wealth Capital Management LLC grew its holdings in Medtronic by 3.0% during the 3rd quarter. One Wealth Capital Management LLC now owns 4,240 shares of the medical technology company’s stock worth $366,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 10,420 shares of the stock in a transaction 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 directly owned 105,916 shares of the company’s stock, valued at approximately $10,167,936. This represents a 8.96% decrease in their ownership of the stock. 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 a total of 61,903 shares of company stock valued at $5,889,203 in the last ninety days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MDT shares. Barclays raised shares of Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Truist Financial reissued a “hold” rating and issued a $99.00 target price (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Needham & Company LLC reissued a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. BTIG Research decreased their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a report on Monday, October 12th. Finally, Stifel Nicolaus lifted their price target on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Medtronic Stock Performance

Shares of MDT opened at $96.55 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. The firm has a market cap of $123.50 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55. The company’s 50 day simple moving average is $91.70 and its 200-day simple moving average is $88.34. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. Medtronic’s revenue for the quarter 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. As a group, equities analysts predict that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Announces Dividend

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

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.