Medtronic PLC $MDT Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in Medtronic PLC (NYSE:MDT) by 14.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,196 shares of the medical technology company’s stock after purchasing an additional 10,285 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Medtronic were worth $6,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WCM Investment Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth approximately $965,922,000. First Eagle Investment Management LLC increased its holdings in shares of 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 worth $1,078,321,000 after purchasing an additional 3,739,288 shares during the period. Cullen Capital Management LLC bought a new position in shares of Medtronic during the second quarter worth approximately $202,764,000. State Street Corp increased its holdings in shares of Medtronic by 2.7% during 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 during the period. Finally, Amundi raised 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 buying an additional 1,616,739 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total value 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. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 in the company, valued at $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 61,903 shares of company stock worth $5,889,203. Corporate insiders own 0.27% of the company’s stock.

Medtronic Trading Down 0.6%

Shares of Medtronic stock opened at $100.96 on Friday. The company has a market capitalization of $129.14 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.38 and a beta of 0.56. 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 PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm’s 50-day moving average price is $93.52 and its two-hundred day moving average price is $88.46.

Medtronic (NYSE:MDT) last released its 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. The firm had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business’s quarterly revenue 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. On average, analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company 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. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDT. Wells Fargo & Company boosted their price target on Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Mizuho set a $115.00 price target on Medtronic in a research report on Wednesday, September 2nd. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Medtronic in a report on Wednesday, September 30th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Medtronic Profile

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.