Medtronic PLC $MDT Holdings Trimmed by Cooke & Bieler LP

Cooke & Bieler LP lowered its holdings in Medtronic PLC (NYSE:MDT) by 40.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 477,037 shares of the medical technology company’s stock after selling 322,171 shares during the period. Cooke & Bieler LP’s holdings in Medtronic were worth $41,164,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gradient Investments LLC increased its holdings in shares of Medtronic by 3.9% in the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after purchasing an additional 18,509 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Medtronic by 14.8% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock worth $12,918,000 after purchasing an additional 19,315 shares in the last quarter. Czech National Bank boosted its holdings in shares of Medtronic by 4.7% during the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after purchasing an additional 16,292 shares during the period. Worth Asset Management LLC acquired a new stake in shares of Medtronic during the third quarter worth approximately $1,056,000. Finally, Congress Asset Management Co. acquired a new stake in shares of Medtronic during the third quarter worth approximately $76,201,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MDT shares. Bank of America boosted their price objective on shares of Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Mizuho set a $115.00 target price on shares of Medtronic in a research report on Wednesday, September 2nd. Evercore set a $105.00 target price on shares of Medtronic in a research report on Monday, July 6th. Truist Financial reissued a “hold” rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a research note on Wednesday, September 2nd. Finally, BTIG Research lowered their price target on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Stock Performance

Shares of MDT stock opened at $93.05 on Thursday. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock’s 50-day moving average is $91.23 and its two-hundred day moving average is $85.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The firm has a market cap of $119.02 billion, a P/E ratio of 22.92, a PEG ratio of 2.21 and a beta of 0.55.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 70.94%.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total value of $1,000,320.00. Following the completion of the sale, the executive vice president directly owned 105,916 shares in the company, valued at $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the business’s 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 sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,903 shares of company stock valued at $5,889,203. 0.27% of the stock is currently owned by corporate insiders.

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.