Medtronic PLC $MDT Stock Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in Medtronic PLC (NYSE:MDT) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,789 shares of the medical technology company’s stock after selling 5,289 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Medtronic were worth $15,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. WCM Investment Management LLC acquired a new position in Medtronic in the first quarter valued at approximately $965,922,000. First Eagle Investment Management LLC grew its stake in shares of Medtronic by 37.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after purchasing an additional 3,739,288 shares during the period. Cullen Capital Management LLC acquired a new stake in shares of Medtronic during the 2nd quarter worth approximately $202,764,000. State Street Corp grew its stake in shares of Medtronic by 2.7% during the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after purchasing an additional 1,658,301 shares during the period. Finally, Amundi increased its holdings in shares of Medtronic by 36.3% during the 1st quarter. Amundi now owns 6,070,236 shares of the medical technology company’s stock valued at $525,986,000 after purchasing an additional 1,616,739 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Medtronic stock opened at $94.72 on Tuesday. The company’s fifty day moving average price is $91.37 and its 200 day moving average price is $88.43. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock has a market capitalization of $121.17 billion, a P/E ratio of 23.33, a P/E/G ratio of 2.23 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. As a group, equities research analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared 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 dividend yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Truist Financial restated 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, September 2nd. Eighteen 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Insider Activity

In other 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 sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the sale, the chief executive officer directly owned 277,866 shares in the company, valued at approximately $26,397,270. This trade represents a 15.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,903 shares of company stock worth $5,889,203 over the last quarter. 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.