Medtronic PLC $MDT Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC cut its holdings in Medtronic PLC (NYSE:MDT) by 67.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,775 shares of the medical technology company’s stock after selling 20,152 shares during the quarter. Royal Fund Management LLC’s holdings in Medtronic were worth $843,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MDT. WCM Investment Management LLC purchased a new stake in Medtronic in the 1st quarter worth $965,922,000. First Eagle Investment Management LLC lifted its holdings in Medtronic by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock valued at $1,078,321,000 after purchasing an additional 3,739,288 shares in the last quarter. Cullen Capital Management LLC purchased a new position in Medtronic during the second quarter valued at $202,764,000. State Street Corp grew its position in shares of Medtronic by 2.7% in the second 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 during the period. Finally, Amundi grew its position in shares of Medtronic by 36.3% in the first quarter. Amundi now owns 6,070,236 shares of the medical technology company’s stock valued at $525,986,000 after purchasing an additional 1,616,739 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on MDT shares. Mizuho set a $115.00 target price on shares of Medtronic in a research note on Wednesday, September 2nd. UBS Group reiterated a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $92.00 price objective on shares of Medtronic in a research note on Thursday, September 3rd. Stifel Nicolaus increased their target price on Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, September 2nd. Finally, Robert W. Baird raised their target price on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Price Performance

Shares of Medtronic stock traded down $1.11 on Friday, hitting $95.48. 6,008,744 shares of the company were exchanged, compared to its average volume of 34,633,724. The stock has a market capitalization of $122.13 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55. The company has a 50-day moving average price of $91.43 and a 200 day moving average price of $85.30. Medtronic PLC has a 1-year low of $73.31 and a 1-year 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 posted its quarterly earnings results 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 return on equity of 14.78% and a net margin of 13.93%. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The business’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. As a group, sell-side analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Insider Transactions at Medtronic

In other news, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction on 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 transaction, the chief executive officer owned 277,866 shares in the company, valued at $26,397,270. The trade was a 15.25% decrease in their position. The transaction was disclosed in a legal 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 Michael Marinaro sold 10,420 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were 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 in the company, valued at approximately $10,167,936. The trade was a 8.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,903 shares of company stock worth $5,889,203 in the last quarter. Company insiders own 0.27% of the company’s stock.

Medtronic Company 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.