12,237 Shares of Medtronic PLC $MDT Bought by Worth Asset Management LLC

Key Points

• Worth Asset Management purchased 12,237 Medtronic shares worth approximately $1.06 million during the third quarter. Institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly earnings of $1.45 per share, beating estimates by $0.06, while revenue rose 13.7% year over year to $9.76 billion. The company issued fiscal 2027 EPS guidance of $5.94–$6.00.
• Shares recently traded at $86.64, down 0.5%, while analysts maintain a “Moderate Buy” consensus with an average price target of $102.92. Medtronic also declared a quarterly dividend of $0.72 per share, representing a 3.3% yield.

Worth Asset Management LLC purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,237 shares of the medical technology company's stock, valued at approximately $1,056,000.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. grew its position in shares of Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock valued at $8,919,846,000 after purchasing an additional 838,220 shares in the last quarter. State Street Corp boosted its stake in Medtronic by 2.7% during the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company's stock worth $5,005,320,000 after buying an additional 1,658,301 shares during the last quarter. Bank of America Corp DE grew its holdings in Medtronic by 5.4% in the 1st 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 buying an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Medtronic by 37.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company's stock worth $1,078,321,000 after acquiring an additional 3,739,288 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new position in shares of Medtronic during the 1st quarter worth $965,922,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.5%

MDT traded down $0.45 during mid-day trading on Wednesday, hitting $86.64. 21,351,172 shares of the stock were exchanged, compared to its average volume of 9,883,359. The firm's fifty day moving average is $90.22 and its two-hundred day moving average is $84.76. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a market cap of $110.83 billion, a PE ratio of 21.32, a PEG ratio of 2.00 and a beta of 0.55. 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 - Get Free Report) last released 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. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.Medtronic's revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company 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 analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, September 25th. Medtronic's dividend payout ratio (DPR) is presently 70.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial restated a "hold" rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. TD Cowen reissued a "buy" rating and set a $110.00 target price on shares of Medtronic in a research note on Wednesday, September 30th. Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a research note on Monday, August 10th. Barclays started coverage on Medtronic in a research report on Tuesday. They set an "equal weight" rating and a $95.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $92.00 target price on shares of Medtronic in a research note on Thursday, September 3rd. Eighteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.92.

Insider Activity

In related news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the transaction, the executive vice president directly owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company's portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.

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