6,102 Shares in Medtronic PLC $MDT Bought by Root Financial Partners LLC

Root Financial Partners LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,102 shares of the medical technology company’s stock, valued at approximately $527,000.

Several other institutional investors also recently bought and sold shares of the business. Petredis Investment Advisors LLC lifted its holdings in shares of Medtronic by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock valued at $2,275,000 after acquiring an additional 114 shares in the last quarter. Arlington Trust Co LLC boosted its position in Medtronic by 11.6% during the 2nd quarter. Arlington Trust Co LLC now owns 1,157 shares of the medical technology company’s stock worth $91,000 after purchasing an additional 120 shares during the period. Bigelow Investment Advisors LLC boosted its position 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 worth $964,000 after purchasing an additional 121 shares during the period. Bank & Trust Co boosted its position in Medtronic by 2.8% during the 2nd 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, Grove Bank & Trust increased its holdings in Medtronic by 1.2% in the 3rd quarter. Grove Bank & Trust now owns 10,564 shares of the medical technology company’s stock valued at $912,000 after purchasing an additional 124 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT stock opened at $95.48 on Friday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market capitalization 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. The business has a 50 day simple moving average of $91.43 and a 200 day simple moving average of $85.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The firm’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. On average, equities research analysts anticipate that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Mizuho set a $115.00 price objective on Medtronic in a research note on Wednesday, September 2nd. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings upgraded Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, September 30th. Finally, Truist Financial reaffirmed a “hold” rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Insider Activity at Medtronic

In related news, 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 value of $4,750,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,903 shares of company stock worth $5,889,203 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

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.