Medtronic PLC $MDT Holdings Decreased by Bryn Mawr Trust Advisors LLC

Bryn Mawr Trust Advisors LLC cut its stake in Medtronic PLC (NYSE:MDT) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 135,237 shares of the medical technology company’s stock after selling 4,999 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in Medtronic were worth $11,670,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gradient Investments LLC grew its holdings in Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after buying an additional 18,509 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Medtronic by 14.8% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock valued at $12,918,000 after buying an additional 19,315 shares during the period. Congress Asset Management Co. purchased a new stake in shares of Medtronic in the third quarter worth about $76,201,000. Worth Asset Management LLC purchased a new stake in shares of Medtronic in the third quarter worth about $1,056,000. Finally, Czech National Bank lifted its holdings in shares of Medtronic by 4.7% in the second 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 in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $101.82 on Monday. The firm has a market capitalization of $130.24 billion, a P/E ratio of 25.08, a P/E/G ratio of 2.38 and a beta of 0.56. 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 stock’s 50-day simple moving average is $92.70 and its two-hundred day simple moving average is $88.45. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDT. Barclays upgraded shares of Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $92.00 target price on shares of Medtronic in a report on Thursday, September 3rd. 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. Bank of America increased their target price on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Finally, BTIG Research cut 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. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction that occurred 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 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the sale, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 61,903 shares of company stock worth $5,889,203. Insiders own 0.27% of the company’s stock.

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.