6,958 Medtronic PLC $MDT Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management increased its holdings in Medtronic PLC (NYSE:MDT) by 32.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,429 shares of the medical technology company’s stock after buying an additional 6,958 shares during the period. Ritholtz Wealth Management’s holdings in Medtronic were worth $2,453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. BlackRock Inc. raised its position in Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after acquiring an additional 838,220 shares during the last quarter. State Street Corp lifted its holdings in shares of Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE grew its position in shares of Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after purchasing an additional 1,343,220 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Medtronic by 37.2% in the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock valued at $1,078,321,000 after purchasing an additional 3,739,288 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic in the first quarter valued at approximately $965,922,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDT has been the subject of several research reports. Wells Fargo & Company lifted their price objective on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Stifel Nicolaus increased their target price on Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Sunday, November 8th. UBS Group reissued a “cautious” rating on shares of Medtronic in a research report on Wednesday, October 14th. Finally, Barclays raised Medtronic to a “hold” rating in a report on Wednesday, October 7th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Medtronic Trading Up 1.8%

Shares of Medtronic stock traded up $1.85 during mid-day trading on Friday, hitting $102.84. 5,257,133 shares of the stock were exchanged, compared to its average volume of 10,182,103. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market capitalization of $131.54 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 2.36 and a beta of 0.56. The company has a 50-day simple moving average of $93.72 and a 200 day simple moving average of $88.47. 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 (NYSE:MDT) last posted 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. The business had revenue of $9.76 billion during 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 company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Research analysts forecast that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s payout ratio is presently 70.94%.

Insiders Place Their Bets

In other Medtronic news, CEO Geoffrey Martha sold 50,000 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the transaction, the chief executive officer owned 277,866 shares of the company’s stock, valued at $26,397,270. This represents a 15.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction, the executive vice president directly owned 105,916 shares in the company, valued at approximately $10,167,936. This represents 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. In the last three months, insiders sold 61,903 shares of company stock valued at $5,889,203. Company insiders own 0.27% of the company’s stock.

About Medtronic

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.