Medtronic PLC $MDT Stock: WASHINGTON TRUST Co Grows Position

WASHINGTON TRUST Co increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 11.9% in the third quarter, Holdings Channel reports. The firm owned 98,863 shares of the medical technology company’s stock after buying an additional 10,481 shares during the quarter. WASHINGTON TRUST Co’s holdings in Medtronic were worth $8,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. BlackRock Inc. raised its holdings in shares of Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after buying an additional 838,220 shares during the last quarter. State Street Corp boosted its stake 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 buying an additional 1,658,301 shares during the period. Bank of America Corp DE boosted its stake 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 worth $2,254,200,000 after buying an additional 1,343,220 shares during the period. First Eagle Investment Management LLC grew 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 buying an additional 3,739,288 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new position in shares of Medtronic during the first quarter worth about $965,922,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE MDT traded down $1.11 during trading hours on Friday, hitting $95.48. 6,008,744 shares of the stock were exchanged, compared to its average volume of 34,633,724. The company has a market cap 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. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The stock has a 50-day moving average of $91.43 and a 200 day moving average of $85.30. 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 announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. 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 year.

Medtronic Dividend Announcement

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

Insider Activity

In related news, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction on 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 $3,950,718.90. This 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 at this link. Also, EVP Michael Marinaro sold 10,420 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the completion of the transaction, the executive vice president owned 105,916 shares of the company’s stock, valued at $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 sold 61,903 shares of company stock valued at $5,889,203 in the last three months. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $92.00 price target on shares of Medtronic in a research report on Thursday, September 3rd. BTIG Research lowered their target price on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Barclays raised Medtronic to a “hold” rating in a report on Wednesday, October 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Finally, TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Medtronic in a research note on Wednesday, September 30th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price 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.