Medtronic PLC $MDT Stock Purchased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its holdings in Medtronic PLC (NYSE:MDT) by 59.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,979 shares of the medical technology company’s stock after acquiring an additional 11,919 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Medtronic were worth $3,051,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MDT. Verity Asset Management Inc. raised its position in Medtronic by 4.1% in the 3rd quarter. Verity Asset Management Inc. now owns 3,413 shares of the medical technology company’s stock valued at $295,000 after buying an additional 135 shares during the last quarter. Ascent Group LLC boosted its position in Medtronic by 20.5% during the 3rd quarter. Ascent Group LLC now owns 23,220 shares of the medical technology company’s stock worth $2,004,000 after acquiring an additional 3,955 shares during the last quarter. Signet Investment Advisory Group Inc. grew its stake in shares of Medtronic by 4.1% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 34,828 shares of the medical technology company’s stock worth $3,005,000 after acquiring an additional 1,357 shares in the last quarter. MH & Associates Securities Management Corp ADV grew its stake in shares of Medtronic by 0.4% during the 3rd quarter. MH & Associates Securities Management Corp ADV now owns 35,004 shares of the medical technology company’s stock worth $3,020,000 after acquiring an additional 150 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $221,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT traded down $3.02 during trading hours on Friday, reaching $101.82. The company’s stock had a trading volume of 7,451,083 shares, compared to its average volume of 27,950,256. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company’s 50-day moving average is $92.70 and its 200-day moving average is $88.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The firm has a market cap of $130.24 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. The firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company 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. On average, equities analysts forecast that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced 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 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%.

Insider Activity at Medtronic

In other Medtronic news, 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 transaction, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at $26,397,270. This represents a 15.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 61,903 shares of company stock worth $5,889,203. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. TD Cowen reissued a “buy” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, September 30th. Truist Financial reissued a “hold” rating and set a $99.00 price target (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Finally, Bank of America boosted their price target 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 given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.88.

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.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.