Medtronic PLC $MDT Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its stake in Medtronic PLC (NYSE:MDT) by 37.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,546 shares of the medical technology company’s stock after selling 5,745 shares during the period. International Assets Investment Management LLC’s holdings in Medtronic were worth $825,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management boosted its stake in shares of Medtronic by 470.9% during the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 259 shares in the last quarter. IAG Wealth Partners LLC purchased a new position in shares of Medtronic during the second quarter valued at about $30,000. Team Financial Group LLC bought a new position in Medtronic in the third quarter worth about $31,000. Pin Oak Investment Advisors Inc. bought a new position in Medtronic in the second quarter worth about $32,000. Finally, Community Bank N.A. bought a new position in Medtronic in the second quarter worth about $33,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other news, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction dated 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 transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 61,903 shares of company stock worth $5,889,203. Corporate insiders own 0.27% of the company’s stock.

Medtronic Stock Up 0.9%

MDT stock opened at $102.73 on Tuesday. The business has a 50 day moving average of $92.93 and a 200 day moving average of $88.46. The firm has a market cap of $131.41 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.46 and a beta of 0.56. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating 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 company had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the firm posted $1.26 EPS. Medtronic’s revenue for the quarter was up 13.7% on a year-over-year basis. 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, research analysts forecast that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

The business 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 2.8%. Medtronic’s payout ratio is 70.94%.

Analyst Ratings Changes

MDT has been the topic of several research reports. Bank of America lifted their price objective on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Sunday. Needham & Company LLC reissued a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Barclays upgraded Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Finally, Stifel Nicolaus lifted their price target on Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, 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.