Medtronic PLC $MDT Position Raised by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in Medtronic PLC (NYSE:MDT) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,231,555 shares of the medical technology company’s stock after purchasing an additional 48,688 shares during the quarter. ProShare Advisors LLC’s holdings in Medtronic were worth $192,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after buying an additional 838,220 shares during the period. State Street Corp grew its stake 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 worth $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Medtronic by 5.4% during the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after purchasing an additional 1,343,220 shares during the period. First Eagle Investment Management LLC lifted its holdings in 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 purchasing an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new position in Medtronic during the 1st quarter valued at about $965,922,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group reissued a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Finally, Mizuho set a $115.00 price target on shares of Medtronic in a report on Wednesday, September 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Insider Transactions at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president owned 42,186 shares of the company’s stock, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Geoffrey Martha sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total value of $4,750,000.00. Following the transaction, the chief executive officer owned 277,866 shares in the company, valued at approximately $26,397,270. This trade represents a 15.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is owned by corporate insiders.

Medtronic Trading Down 0.6%

NYSE:MDT opened at $96.55 on Friday. The stock has a market cap of $123.50 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55. 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 current ratio of 2.07 and a quick ratio of 1.54. The stock’s 50-day moving average is $91.70 and its two-hundred day moving average is $88.34.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.55 billion. During the same quarter last year, the business posted $1.26 EPS. The company’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, equities research analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

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.