Medtronic PLC $MDT Shares Bought by WestEnd Advisors LLC

WestEnd Advisors LLC raised its holdings in Medtronic PLC (NYSE:MDT) by 18.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 454,423 shares of the medical technology company’s stock after acquiring an additional 71,480 shares during the quarter. Medtronic makes up about 0.9% of WestEnd Advisors LLC’s holdings, making the stock its 27th largest holding. WestEnd Advisors LLC’s holdings in Medtronic were worth $39,212,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MDT. BlackRock Inc. lifted its position in Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after acquiring an additional 838,220 shares during the period. State Street Corp grew its stake in Medtronic by 2.7% during the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after purchasing an additional 1,343,220 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Medtronic by 37.2% in the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock valued at $1,078,321,000 after purchasing an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic during the first quarter worth about $965,922,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction 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 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 trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was 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 of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,903 shares of company stock worth $5,889,203 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Medtronic Stock Down 1.0%

Shares of NYSE MDT opened at $93.84 on Wednesday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company’s 50-day simple moving average is $91.51 and its 200-day simple moving average is $88.37. The firm has a market cap of $120.04 billion, a price-to-earnings ratio of 23.11 and a beta of 0.55.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $9.55 billion. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $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. Equities research analysts anticipate that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were given a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is 70.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays upgraded Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Stifel Nicolaus raised their price target on shares of Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, September 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. Evercore set a $105.00 price objective on shares of Medtronic in a research note on Monday, July 6th. Finally, BTIG Research decreased their price objective on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a research note 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s raised guidance recently supported investor sentiment and highlighted improved expectations for earnings. The update was associated with a notable gain in the stock in the prior session. Medtronic raised guidance
• Positive Sentiment: Medtronic extended its dividend-growth record to 49 years. The long streak may appeal to income-oriented investors, although the latest increase reportedly only modestly exceeded inflation. Medtronic dividend increase
• Neutral Sentiment: The global leadless-pacemaker market is projected to expand at a 12.8% annual rate through 2036. This represents a potential long-term opportunity for Medtronic, a major cardiac-device company, but the report is an industry forecast rather than a company-specific catalyst. Global leadless pacemakers market forecast
• Neutral Sentiment: Broader medical-device executives cited rising costs, volatile markets and cybersecurity risks at an industry conference. These issues could affect sector margins and operations, but no specific new impact on Medtronic was reported. Medtech industry conference
• Negative Sentiment: Short interest surged 247.7% to approximately 139 million shares as of October 15, with 10.9% of shares sold short. The increase signals significantly more bearish positioning and may add volatility or selling pressure.
• Negative Sentiment: Piper Sandler maintained a “Hold” rating with an $85 price target, indicating limited expected upside relative to recent trading levels. Piper Sandler Medtronic rating
• Negative Sentiment: Analysts note that Medtronic’s dividend growth lags rivals Abbott and Johnson & Johnson, potentially reducing its appeal to income investors despite the lengthy payout streak. Medtronic dividend comparison

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.