Medtronic PLC $MDT Shares Sold by Parthenon LLC

Parthenon LLC cut its holdings in Medtronic PLC (NYSE:MDT) by 13.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 52,017 shares of the medical technology company’s stock after selling 7,786 shares during the quarter. Parthenon LLC’s holdings in Medtronic were worth $4,489,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after purchasing an additional 838,220 shares during the last quarter. State Street Corp increased its stake in Medtronic by 2.7% during the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after buying an additional 1,343,220 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Medtronic by 37.2% in the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after buying an additional 3,739,288 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic during the first quarter worth $965,922,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of Medtronic 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 transaction, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Geoffrey Martha sold 50,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the transaction, the chief executive officer owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. This represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 61,903 shares of company stock valued at $5,889,203. 0.27% of the stock is owned by company insiders.

Medtronic Stock Performance

NYSE MDT traded down $1.11 on Friday, reaching $95.48. 6,008,744 shares of the company’s stock traded hands, compared to its average volume of 34,633,724. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The firm has a market cap of $122.13 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 2.26 and a beta of 0.55. The stock has a 50 day moving average price of $91.43 and a 200-day moving average price of $85.30.

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

Medtronic Dividend Announcement

The business also recently declared 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. This represents a $2.88 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. Bank of America lifted their price target on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Finally, Robert W. Baird lifted their target price 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $102.88.

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.