12,505 Medtronic PLC $MDT Shares Purchased by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Medtronic stake by 39.8% in the third quarter, buying 12,505 shares and bringing its holdings to 43,963 shares, valued at about $3.8 million.
• Analysts give Medtronic a “Moderate Buy” consensus rating, with an average price target of $102.88; 18 analysts rate it Buy, nine Hold, and one Sell.
• Medtronic beat quarterly earnings and revenue estimates, reporting EPS of $1.45 and revenue of $9.76 billion. It also declared a quarterly dividend of $0.72 per share.

Alps Advisors Inc. grew its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 39.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 43,963 shares of the medical technology company's stock after acquiring an additional 12,505 shares during the quarter. Alps Advisors Inc.'s holdings in Medtronic were worth $3,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Activest Wealth Management increased its holdings in shares of Medtronic by 470.9% during the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 259 shares during the period. Team Financial Group LLC bought a new position in Medtronic in the 3rd quarter valued at about $31,000. IAG Wealth Partners LLC bought a new position in Medtronic in the 2nd quarter valued at about $30,000. Pin Oak Investment Advisors Inc. acquired a new position in Medtronic during the 2nd quarter valued at about $32,000. Finally, Global Assets Advisory LLC acquired a new position in Medtronic during the 1st quarter valued at about $36,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MDT. Wells Fargo & Company boosted their price target on shares of Medtronic from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. Piper Sandler reiterated a "neutral" rating on shares of Medtronic in a report on Wednesday, October 14th. Robert W. Baird raised their price objective on shares of Medtronic from $91.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating and set a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Finally, Barclays upgraded Medtronic to a "hold" rating in a research report on Wednesday, October 7th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.88.

Insider Buying and Selling at Medtronic

In other 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 completion of the sale, the chief executive officer owned 277,866 shares in the company, valued at approximately $26,397,270. This represents a 15.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the firm's 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 sale, the executive vice president directly owned 42,186 shares of the company's stock, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 61,903 shares of company stock valued at $5,889,203. Corporate insiders own 0.27% of the company's stock.

Medtronic Stock Performance

Shares of MDT opened at $102.73 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The firm's 50 day moving average is $92.93 and its 200-day moving average is $88.46. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The stock has a market capitalization of $131.41 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.46 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $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. Equities research analysts anticipate that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Medtronic Company 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.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.

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