Medtronic PLC $MDT Stock Sold by R Squared Ltd

R Squared Ltd reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 51.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,105 shares of the medical technology company’s stock after selling 10,512 shares during the quarter. R Squared Ltd’s holdings in Medtronic were worth $872,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MDT. Activest Wealth Management lifted its position in shares of Medtronic by 470.9% during the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock worth $27,000 after buying an additional 259 shares during the last quarter. Team Financial Group LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at $31,000. Avion Wealth raised its stake in Medtronic by 97.8% during the 3rd quarter. Avion Wealth now owns 362 shares of the medical technology company’s stock worth $31,000 after acquiring an additional 179 shares in the last quarter. IAG Wealth Partners LLC acquired a new stake in Medtronic during the 2nd quarter worth $30,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in Medtronic during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $100.96 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $93.52 and a 200-day simple moving average of $88.46. The company has a market cap of $129.14 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly 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. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. 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, equities analysts forecast that Medtronic PLC will post 5.98 EPS 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 given a $0.72 dividend. 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 is currently 70.94%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MDT. Mizuho set a $115.00 price objective on Medtronic in a research note on Wednesday, September 2nd. Deutsche Bank reiterated a “hold” rating and set a $92.00 price target on shares of Medtronic in a research note on Thursday, September 3rd. Barclays raised shares of Medtronic to a “hold” rating in a research report on Wednesday, October 7th. UBS Group restated a “cautious” rating on shares of Medtronic in a research note on Wednesday, October 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.88.

Insider Activity

In related news, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 105,916 shares of the company’s stock, valued at approximately $10,167,936. The trade was a 8.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,903 shares of company stock worth $5,889,203 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

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.