Medtronic PLC (NYSE:MDT) Stock Short Interest Report for October

Medtronic PLC (NYSE:MDT) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 139,004,337 shares, a growth of 247.7% from the September 30th total of 39,974,230 shares. Currently, 10.9% of the shares of the company are short sold. Based on an average daily trading volume, of 47,498,393 shares, the short-interest ratio is currently 2.9 days.

Medtronic Stock Performance

MDT traded up $0.15 during trading hours on Friday, reaching $97.26. The company’s stock had a trading volume of 1,897,585 shares, compared to its average volume of 11,335,219. The firm has a market cap of $124.41 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.22 and a beta of 0.55. The company’s 50-day moving average is $91.62 and its 200-day moving average is $88.35. Medtronic has a 52 week low of $73.31 and a 52 week high of $106.33. 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 announced its 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. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. Medtronic’s revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, equities analysts forecast that Medtronic will post 5.98 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Insider Activity

In other news, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the sale, the executive vice president directly owned 105,916 shares in the company, valued at approximately $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at $26,397,270. The trade was a 15.25% 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. Over the last ninety days, insiders have sold 61,903 shares of company stock worth $5,889,203. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several large investors have recently modified their holdings of MDT. BlackRock Inc. grew its stake in shares of 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 raised its stake in Medtronic by 2.7% in 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 acquiring an additional 1,658,301 shares during the period. Bank of America Corp DE lifted its holdings in Medtronic by 5.4% during 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 last quarter. First Eagle Investment Management LLC lifted its holdings in Medtronic by 37.2% during 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 last quarter. Finally, WCM Investment Management LLC purchased a new stake in Medtronic during the first quarter valued at about $965,922,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the subject of a number of research analyst reports. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, September 30th. Weiss Ratings raised Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. BTIG Research decreased their price target on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a report on Monday, October 12th. Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. Finally, Robert W. Baird lifted their target price on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Eighteen investment 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. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $102.88.

About Medtronic

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.