Medtronic PLC $MDT Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in shares of Medtronic PLC (NYSE:MDT) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 653,892 shares of the medical technology company’s stock after selling 23,555 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Medtronic worth $62,277,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Medtronic by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after acquiring an additional 1,895,165 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Medtronic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after acquiring an additional 192,410 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after purchasing an additional 98,220 shares during the last quarter. Invesco Ltd. lifted its stake in Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after purchasing an additional 666,557 shares during the last quarter. Finally, Norges Bank acquired a new position in Medtronic in the second quarter valued at approximately $1,432,698,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $87.05 on Monday. The company’s 50 day simple moving average is $97.96 and its 200-day simple moving average is $96.91. The firm has a market cap of $111.77 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. Medtronic’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 27th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Citigroup initiated coverage on shares of Medtronic in a research report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 target price on the stock. CICC Research assumed coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “outperform” rating on the stock. Royal Bank Of Canada boosted their price target on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Finally, Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.74.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares in the company, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).