Medtronic PLC $MDT Holdings Boosted by Brighton Jones LLC

Key Points

• Institutional ownership increased: Brighton Jones LLC boosted its Medtronic stake by 86.9% in the third quarter to 40,425 shares, valued at about $3.49 million. Institutional investors collectively own 82.06% of the stock.
• Medtronic beat quarterly expectations: The company reported adjusted earnings of $1.45 per share and revenue of $9.76 billion, ahead of consensus estimates; revenue rose 13.7% year over year. Its FY 2027 EPS guidance is $5.94–$6.00.
• Analyst sentiment is moderately positive: The stock has a “Moderate Buy” consensus rating and an average price target of $102.88. Medtronic’s annualized dividend is $2.88 per share, a yield of about 2.8% at the article’s cited price.

Brighton Jones LLC grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 86.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,425 shares of the medical technology company's stock after acquiring an additional 18,793 shares during the quarter. Brighton Jones LLC's holdings in Medtronic were worth $3,488,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MDT. BlackRock Inc. boosted its stake in shares of Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock worth $8,919,846,000 after buying an additional 838,220 shares during the last quarter. State Street Corp increased its position 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 valued at $5,005,320,000 after acquiring an additional 1,658,301 shares during the last quarter. Bank of America Corp DE increased its position in Medtronic by 5.4% during the first 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 acquiring an additional 1,343,220 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Medtronic by 37.2% in the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company's stock valued at $1,078,321,000 after acquiring an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC bought a new position in Medtronic in the first quarter valued at about $965,922,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Up 0.0%

Medtronic stock opened at $101.82 on Monday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market capitalization of $130.24 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 2.38 and a beta of 0.56. The firm has a 50 day moving average of $92.70 and a 200 day moving average of $88.45. 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 issued 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. The business had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company's revenue for the quarter was up 13.7% on a year-over-year basis. 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. As a group, research analysts predict that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors 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 yield of 2.8%. Medtronic's dividend payout ratio is currently 70.94%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares of the company's stock, valued at $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Marinaro sold 10,420 shares of the firm'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 sale, the executive vice president directly owned 105,916 shares in the company, valued at approximately $10,167,936. This represents a 8.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 61,903 shares of company stock valued at $5,889,203. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MDT shares. Piper Sandler restated a "neutral" rating on shares of Medtronic in a research note on Wednesday, October 14th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Sunday. Royal Bank Of Canada reissued an "outperform" rating and issued a $118.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. Bank of America boosted their target price on shares of Medtronic from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Medtronic in a report on Thursday, September 17th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.88.

About Medtronic

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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