Crossmark Global Holdings Inc. Sells 15,994 Shares of Medtronic PLC $MDT

Key Points

• Crossmark Global Holdings reduced its Medtronic stake by 4.4%, selling 15,994 shares and retaining 351,163 shares worth approximately $30.3 million. Institutional investors collectively own 82.06% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy, nine Hold and one Sell rating. Medtronic has a consensus price target of $102.88, compared with its reported opening price of $93.05.
• Medtronic exceeded quarterly earnings and revenue expectations, reporting $1.45 in EPS and $9.76 billion in revenue, while paying a quarterly dividend of $0.72, or $2.88 annually, for a 3.1% yield. Insiders sold 61,903 shares worth about $5.9 million over the past 90 days.

Crossmark Global Holdings Inc. decreased its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,163 shares of the medical technology company's stock after selling 15,994 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Medtronic were worth $30,302,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MDT shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $92.00 price target on shares of Medtronic in a report on Thursday, September 3rd. TD Cowen reaffirmed a "buy" rating and set a $110.00 target price on shares of Medtronic in a research report on Wednesday, September 30th. Barclays upgraded shares of Medtronic to a "hold" rating in a report on Wednesday, October 7th. Stifel Nicolaus increased their price objective on shares of Medtronic from $80.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, September 2nd. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a research report on Wednesday, October 14th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $102.88.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Geoffrey Martha sold 50,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 277,866 shares of the company's stock, valued at $26,397,270. The trade was a 15.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,903 shares of company stock valued at $5,889,203 over the last ninety days. Company insiders own 0.27% of the company's stock.

Medtronic Price Performance

NYSE:MDT opened at $93.05 on Thursday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. 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 market cap 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 firm's fifty day moving average is $91.23 and its two-hundred day moving average is $85.16.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion for 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%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $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. Research analysts expect that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were paid a $0.72 dividend. The ex-dividend date 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%.

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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