Medtronic PLC $MDT Stock Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its position in Medtronic PLC (NYSE:MDT) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 351,163 shares of the medical technology company’s stock after selling 15,994 shares during the period. Crossmark Global Holdings Inc.’s holdings in Medtronic were worth $30,302,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Albion Financial Group UT grew its holdings in Medtronic by 8.0% in the third quarter. Albion Financial Group UT now owns 68,300 shares of the medical technology company’s stock valued at $5,894,000 after purchasing an additional 5,064 shares during the period. Strengthening Families & Communities LLC increased its position in shares of Medtronic by 10.5% in the third quarter. Strengthening Families & Communities LLC now owns 29,559 shares of the medical technology company’s stock valued at $2,551,000 after buying an additional 2,810 shares in the last quarter. Sawyer & Company Inc purchased a new stake in shares of Medtronic in the third quarter valued at approximately $1,877,000. 365 WMG Private Fund I Primus Fund LLC purchased a new stake in shares of Medtronic in the third quarter valued at approximately $444,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Medtronic by 109.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 11,063 shares of the medical technology company’s stock worth $1,029,000 after buying an additional 5,770 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.7%

Shares of MDT opened at $93.05 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock has a market capitalization of $119.02 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.21 and a beta of 0.55. The stock has a 50 day moving average price of $91.23 and a 200 day moving average price of $85.16.

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. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $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. Equities research analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued 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 dividend yield of 3.1%. Medtronic’s dividend payout ratio is presently 70.94%.

Insider Activity

In other news, 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 value of $138,882.95. Following the completion of the sale, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the completion of 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 ownership of the stock. 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 worth $5,889,203 over the last three months. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research report on Wednesday, September 2nd. Robert W. Baird boosted their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Barclays upgraded shares of Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Weiss Ratings upgraded shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, UBS Group reaffirmed a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

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.