Medtronic PLC $MDT Stock Purchased by Ethic Inc.

Ethic Inc. grew its stake in shares of Medtronic PLC (NYSE:MDT) by 21.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,815 shares of the medical technology company’s stock after purchasing an additional 34,348 shares during the period. Ethic Inc.’s holdings in Medtronic were worth $16,638,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. StoneX Group Inc. lifted its holdings in Medtronic by 36.5% in the third quarter. StoneX Group Inc. now owns 7,792 shares of the medical technology company’s stock worth $678,000 after buying an additional 2,083 shares during the period. Leelyn Smith LLC boosted its position in Medtronic by 3.9% during the 3rd quarter. Leelyn Smith LLC now owns 36,205 shares of the medical technology company’s stock valued at $3,124,000 after acquiring an additional 1,356 shares in the last quarter. Palisade Asset Management LLC boosted its position in Medtronic by 7.7% during the 3rd quarter. Palisade Asset Management LLC now owns 56,794 shares of the medical technology company’s stock valued at $4,901,000 after acquiring an additional 4,050 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Medtronic by 5.2% during the 3rd quarter. Parallel Advisors LLC now owns 20,900 shares of the medical technology company’s stock worth $1,803,000 after acquiring an additional 1,032 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in shares of Medtronic by 6.7% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 51,209 shares of the medical technology company’s stock worth $4,419,000 after acquiring an additional 3,214 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction 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 transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction 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 transaction, the executive vice president owned 105,916 shares of the company’s stock, valued at $10,167,936. The trade was a 8.96% 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 61,903 shares of company stock worth $5,889,203 in the last 90 days. Insiders own 0.27% of the company’s stock.

Medtronic Trading Down 2.9%

NYSE:MDT opened at $101.82 on Friday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. 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 company’s 50-day simple moving average is $92.70 and its 200 day simple moving average is $88.45. The firm has a market capitalization of $130.24 billion, a P/E ratio of 25.08, a PEG ratio of 2.38 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.55 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The business’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. As a group, analysts forecast that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s payout ratio is currently 70.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MDT shares. Bank of America increased their target price on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $92.00 price target on shares of Medtronic in a research report on Thursday, September 3rd. BTIG Research dropped their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Wells Fargo & Company upped their price target on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 2nd. Finally, Robert W. Baird increased their price objective on Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Eighteen investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

About Medtronic

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products.

The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.