State Street Corp Purchases 1,658,301 Shares of Medtronic PLC $MDT

State Street Corp boosted its position in Medtronic PLC (NYSE:MDT) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 63,399,315 shares of the medical technology company’s stock after purchasing an additional 1,658,301 shares during the period. State Street Corp’s holdings in Medtronic were worth $5,005,320,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Ipsen Advisor Group LLC lifted its position in shares of Medtronic by 1.7% in the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after buying an additional 101 shares during the last quarter. Arlington Trust Co LLC raised its stake in Medtronic by 11.6% in the 2nd quarter. Arlington Trust Co LLC now owns 1,157 shares of the medical technology company’s stock valued at $91,000 after acquiring an additional 120 shares during the period. Bigelow Investment Advisors LLC lifted its holdings in Medtronic by 1.1% during the 1st quarter. Bigelow Investment Advisors LLC now owns 11,125 shares of the medical technology company’s stock valued at $964,000 after purchasing an additional 121 shares during the last quarter. Bank & Trust Co boosted its position in Medtronic by 2.8% during the second quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company’s stock worth $342,000 after purchasing an additional 121 shares during the period. Finally, Integrity Alliance LLC. increased its holdings in shares of Medtronic by 1.7% in the second quarter. Integrity Alliance LLC. now owns 7,388 shares of the medical technology company’s stock valued at $578,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

MDT stock traded down $0.22 during midday trading on Tuesday, reaching $91.53. The company had a trading volume of 3,952,229 shares, compared to its average volume of 8,861,453. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The stock has a 50 day moving average price of $89.08 and a 200-day moving average price of $84.90. 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 company has a market capitalization of $117.08 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the company posted $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. Equities research analysts expect that Medtronic PLC will post 5.97 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 70.94%.

Insider Activity

In related 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 value of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MDT shares. Weiss Ratings upgraded shares of Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $92.00 price objective on shares of Medtronic in a research report on Thursday, September 3rd. UBS Group increased their target price on Medtronic from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Robert W. Baird boosted their price target on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Monday, August 10th. Nineteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.