20,152 Medtronic PLC $MDT Shares Sold by Royal Fund Management LLC

Key Points

• Royal Fund Management cut its Medtronic stake by 67.3% in the third quarter, selling 20,152 shares and retaining 9,775 shares valued at approximately $843,000.
• Institutional investors own 82.06% of Medtronic, while insiders sold 61,903 shares worth roughly $5.9 million over the past 90 days.
• Medtronic reported quarterly earnings and revenue above analyst expectations, raised its outlook, and maintains a quarterly dividend of $0.72 per share, representing a 3.0% yield.

Royal Fund Management LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 67.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,775 shares of the medical technology company's stock after selling 20,152 shares during the period. Royal Fund Management LLC's holdings in Medtronic were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Gradient Investments LLC boosted its holdings in shares of Medtronic by 3.9% in the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company's stock valued at $38,842,000 after buying an additional 18,509 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Medtronic by 14.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company's stock worth $12,918,000 after acquiring an additional 19,315 shares in the last quarter. Czech National Bank raised its stake in shares of Medtronic by 4.7% during the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company's stock worth $28,589,000 after acquiring an additional 16,292 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Medtronic during the 3rd quarter worth approximately $1,056,000. Finally, Congress Asset Management Co. purchased a new stake in Medtronic during the third quarter valued at approximately $76,201,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In other news, EVP Michael Marinaro sold 10,420 shares of the firm's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the sale, the executive vice president owned 105,916 shares of the company's stock, valued at $10,167,936. This trade represents a 8.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares of the company's stock, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is owned by corporate insiders.

Medtronic Stock Performance

MDT stock traded down $1.11 during midday trading on Friday, reaching $95.48. The stock had a trading volume of 6,008,744 shares, compared to its average volume of 34,633,724. The stock has a market cap of $122.13 billion, a PE ratio of 23.52, a P/E/G ratio of 2.26 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The firm has a fifty day simple moving average of $91.43 and a two-hundred day simple moving average of $85.30. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly 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 business 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 company's quarterly revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, equities research analysts anticipate that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic's dividend payout ratio (DPR) is 70.94%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent analyst reports. UBS Group restated a "cautious" rating on shares of Medtronic in a research note on Wednesday, October 14th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. Wells Fargo & Company boosted their target price on Medtronic from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 2nd. Weiss Ratings raised Medtronic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Finally, Truist Financial reissued a "hold" rating and issued a $99.00 price target (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. 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's stock. According to data from MarketBeat.com, the company 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.

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