Medtronic PLC $MDT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,172,596 shares of the medical technology company’s stock after selling 118,587 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Medtronic worth $273,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MDT. Activest Wealth Management increased its holdings in shares of Medtronic by 470.9% in the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 259 shares during the period. IAG Wealth Partners LLC purchased a new stake in shares of Medtronic in the second quarter worth approximately $30,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Medtronic in the second quarter worth approximately $32,000. Community Bank N.A. acquired a new stake in shares of Medtronic during the second quarter worth approximately $33,000. Finally, Core Capital Management & Research inc. acquired a new stake in shares of Medtronic during the second quarter worth approximately $33,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

In other news, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the transaction, the chief executive officer directly owned 277,866 shares in the company, valued at approximately $26,397,270. The trade was a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction dated 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 in the company, valued at $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. 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. Insiders sold 61,903 shares of company stock worth $5,889,203 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MDT. Bank of America boosted their price objective on shares of Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $92.00 target price on shares of Medtronic in a research note on Thursday, September 3rd. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Evercore set a $105.00 price target on shares of Medtronic in a report on Monday, July 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a research note on Wednesday, September 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Medtronic Price Performance

Shares of Medtronic stock opened at $96.55 on Friday. The firm has a fifty day simple moving average of $91.70 and a 200-day simple moving average of $88.34. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The stock has a market capitalization of $123.50 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.26 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the firm earned $1.26 EPS. Medtronic’s quarterly revenue 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. On average, sell-side analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

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

About Medtronic

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.