Illinois Municipal Retirement Fund trimmed its holdings in Medtronic PLC (NYSE:MDT – Free Report) by 4.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 209,295 shares of the medical technology company’s stock after selling 8,952 shares during the period. Illinois Municipal Retirement Fund’s holdings in Medtronic were worth $18,060,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in MDT. Activest Wealth Management grew its holdings in shares of Medtronic by 470.9% during the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock worth $27,000 after buying an additional 259 shares during the last quarter. IAG Wealth Partners LLC acquired a new position in Medtronic in the 2nd quarter valued at about $30,000. Team Financial Group LLC purchased a new stake in Medtronic during the 3rd quarter valued at approximately $31,000. Avion Wealth raised its stake in Medtronic by 97.8% during the 3rd quarter. Avion Wealth now owns 362 shares of the medical technology company’s stock valued at $31,000 after acquiring an additional 179 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Medtronic during the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.
Insider Transactions at Medtronic
In other news, 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 transaction of $138,882.95. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Geoffrey Martha sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 61,903 shares of company stock valued at $5,889,203. Corporate insiders own 0.27% of the company’s stock.
Medtronic Trading Up 0.0%
Shares of Medtronic stock opened at $101.64 on Thursday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. 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 company’s 50-day simple moving average is $93.34 and its 200-day simple moving average is $88.46. The firm has a market cap of $130.01 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56.
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $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. As a group, equities research analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current year.
Medtronic Dividend Announcement
The firm also recently announced 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 2.8%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.
Medtronic News Roundup
Here’s some of the latest news about MDT:
- Positive Sentiment: Reported short interest fell 83.5% in October to about 22.95 million shares, or roughly 1.8% of shares outstanding. That suggests fewer investors were positioned for a decline, though short-interest data alone does not indicate future performance. Article: Medtronic PLC Shares Shorted: Short Interest Down 83.5% in October
- Neutral Sentiment: A collaborative cardiac-therapy trial involving Medtronic has completed enrollment with 349 patients. Results are expected to be presented at Heart Rhythm Society 2027; a planned FDA submission depends on positive data, so the potential benefit remains uncertain. Article: Orchestra BioMed Reports Third Quarter 2026 Financial Results and Highlights Recent Business Updates
- Negative Sentiment: Medtronic initiated two Class II recalls affecting cardiac products. The OmniaSecure 3930M lead recall cites possible difficulties with fixation during implantation, while a CareLink SmartSync Programmer software issue may cause inaccurate estimates of implanted-device battery life. The recalls raise potential concerns about product reliability and could create costs or reputational risk, although the reports do not quantify their financial impact. Article: What Is Medtronic Facing After Two Class II Cardiac Device Recalls?
Wall Street Analyst Weigh In
MDT has been the subject of a number of recent research reports. Mizuho set a $115.00 price objective on Medtronic in a research report on Wednesday, September 2nd. UBS Group reissued a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a research note on Thursday, September 17th. Weiss Ratings raised Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. Finally, Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Sunday. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average 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.
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