Short Interest in Medtronic PLC (NYSE:MDT) Rises By 40.2%

Medtronic PLC (NYSE:MDT) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 14,950,000 shares, a growth of 40.2% from the September 30th total of 10,660,000 shares. Based on an average daily volume of 6,990,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.2% of the shares of the stock are sold short. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 6,990,000 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDT shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Argus upped their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Robert W. Baird lifted their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, BTIG Research reissued a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Down 0.6%

MDT traded down $0.51 during trading on Monday, reaching $90.19. The stock had a trading volume of 7,301,642 shares, compared to its average volume of 7,481,256. The stock’s 50 day moving average is $94.35 and its two-hundred day moving average is $89.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $115.68 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.42 and a beta of 0.78. Medtronic has a one year low of $79.29 and a one year high of $99.37.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Several institutional investors and hedge funds have recently modified their holdings of MDT. 1248 Management LLC bought a new position in shares of Medtronic during the first quarter valued at $26,000. Delos Wealth Advisors LLC bought a new position in shares of Medtronic during the second quarter valued at $27,000. Corundum Trust Company INC bought a new position in shares of Medtronic during the third quarter valued at $27,000. Twin Tree Management LP bought a new position in shares of Medtronic during the first quarter valued at $29,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Medtronic during the third quarter valued at $29,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.