Lmcg Investments LLC Acquires 21,269 Shares of Medtronic PLC $MDT

Key Points

• Lmcg Investments increased its Medtronic stake by 18.5% in the third quarter, adding 21,269 shares and bringing its holdings to 136,152 shares valued at approximately $11.75 million.
• Medtronic reported quarterly results above expectations, with EPS of $1.45 and revenue of $9.76 billion; revenue rose 13.7% year over year. The company also pays a quarterly dividend of $0.72 per share, yielding about 3.1% annually.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $102.88, compared with the reported share price of $93.05. However, company insiders sold roughly $5.9 million of stock over the past 90 days.

Lmcg Investments LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 18.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,152 shares of the medical technology company's stock after purchasing an additional 21,269 shares during the period. Lmcg Investments LLC's holdings in Medtronic were worth $11,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Gradient Investments LLC lifted its position 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 worth $38,842,000 after purchasing an additional 18,509 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in 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 valued at $12,918,000 after purchasing an additional 19,315 shares in the last quarter. Czech National Bank grew its holdings in Medtronic by 4.7% during the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company's stock valued at $28,589,000 after purchasing an additional 16,292 shares in the last quarter. Worth Asset Management LLC acquired a new stake in Medtronic during the 3rd quarter valued at $1,056,000. Finally, Congress Asset Management Co. purchased a new stake in Medtronic during the 3rd quarter worth $76,201,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Medtronic stock opened at $93.05 on Thursday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a market cap of $119.02 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.55. The stock has a 50 day moving average of $91.23 and a 200-day moving average of $85.16.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, analysts expect that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders 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 3.1%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic's dividend payout ratio (DPR) is currently 70.94%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Robert W. Baird boosted their price objective on shares of Medtronic from $91.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, September 2nd. Truist Financial reissued a "hold" rating and issued a $99.00 price objective (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. BTIG Research lowered their target price on Medtronic from $100.00 to $99.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $92.00 target price on shares of Medtronic in a research report on Thursday, September 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Medtronic in a research report on Thursday, September 17th. 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 has a consensus rating of "Moderate Buy" and an average price target of $102.88.

Insiders Place Their Bets

In other news, EVP Michael Marinaro sold 10,420 shares of the business's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $96.00, for a total value of $1,000,320.00. Following the completion of the sale, the executive vice president owned 105,916 shares of the company's stock, valued at approximately $10,167,936. The trade was a 8.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were 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 trade represents a 15.25% decrease in their position. 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 sold a total of 61,903 shares of company stock valued at $5,889,203 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Medtronic Profile

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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