17,357 Shares of Medtronic PLC $MDT Bought by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. bought a new position in shares of Medtronic PLC (NYSE:MDT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,357 shares of the medical technology company’s stock, valued at approximately $1,498,000. Medtronic accounts for about 1.0% of Total Wealth Planning & Management Inc.’s holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gradient Investments LLC raised its stake in shares of Medtronic by 3.9% during the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after purchasing an additional 18,509 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Medtronic by 14.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock worth $12,918,000 after buying an additional 19,315 shares during the last quarter. Czech National Bank raised its position in Medtronic by 4.7% during the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after buying an additional 16,292 shares during the last quarter. Congress Asset Management Co. acquired a new stake in shares of Medtronic in the 3rd quarter worth $76,201,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth $1,056,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 105,916 shares of the company’s stock, valued at $10,167,936. This represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Medtronic 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 sale, the chief executive officer owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. This trade represents 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. Insiders sold 61,903 shares of company stock valued at $5,889,203 in the last 90 days. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MDT has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a research report on Wednesday, September 2nd. Bank of America lifted their price objective on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Stifel Nicolaus boosted their target price on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, September 2nd. Finally, Wells Fargo & Company boosted their target price on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. 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’s stock. According to data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Medtronic Stock Performance

Shares of MDT opened at $95.48 on Monday. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $91.43 and a 200-day simple moving average of $85.29. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a market capitalization of $122.13 billion, a PE ratio of 23.52, a P/E/G ratio of 2.23 and a beta of 0.55.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same period last year, the company posted $1.26 earnings per share. The firm’s quarterly 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. Equities research analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 70.94%.

Medtronic 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.