Medtronic PLC $MDT Shares Acquired by Meridiem Capital Partners LP

Key Points

• Meridiem Capital Partners LP boosted its Medtronic stake by 82.5% in Q3, now owning 325,751 shares after buying 147,275 more, valued at about $31.03 million (2.0% of Meridiem's portfolio).
• EVP Harry Skip Kiil sold 52,524 shares at an average of $97.71 for roughly $5.13 million, reducing his holdings by 61.58% to 32,768 shares.
• Medtronic reported a slight beat with Q results of $1.36 EPS on $9.02B revenue (vs. $1.34/$8.89B estimates), set FY2026 EPS guidance of 5.620–5.660, and announced a quarterly dividend of $0.71 (annualized $2.84, ~3.2% yield; ex-dividend Mar 27, payable Apr 17).

Meridiem Capital Partners LP boosted its position in Medtronic PLC (NYSE:MDT - Free Report) by 82.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,751 shares of the medical technology company's stock after purchasing an additional 147,275 shares during the period. Medtronic comprises 2.0% of Meridiem Capital Partners LP's investment portfolio, making the stock its 16th biggest position. Meridiem Capital Partners LP's holdings in Medtronic were worth $31,025,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MDT. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company's stock worth $380,000 after purchasing an additional 381 shares in the last quarter. AE Wealth Management LLC raised its position in shares of Medtronic by 17.1% during the 2nd quarter. AE Wealth Management LLC now owns 10,420 shares of the medical technology company's stock worth $908,000 after purchasing an additional 1,521 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Medtronic by 483.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,453 shares of the medical technology company's stock worth $8,669,000 after purchasing an additional 82,410 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its stake in Medtronic by 5.9% in the 2nd quarter. CENTRAL TRUST Co now owns 11,122 shares of the medical technology company's stock valued at $969,000 after buying an additional 622 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president owned 32,768 shares of the company's stock, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the stock a "neutral" rating in a research report on Wednesday, November 19th. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. Royal Bank Of Canada increased their price objective on Medtronic from $111.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, November 19th. Truist Financial cut their target price on shares of Medtronic from $107.00 to $103.00 and set a "hold" rating for the company in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company assumed coverage on shares of Medtronic in a report on Friday, January 30th. They issued an "overweight" rating and a $114.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $110.74.

Medtronic Trading Up 0.2%

Shares of MDT stock traded up $0.16 during mid-day trading on Friday, hitting $87.54. 454,323 shares of the company's stock were exchanged, compared to its average volume of 8,438,689. The stock has a market cap of $112.39 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.28 and a beta of 0.71. The stock has a 50-day simple moving average of $98.14 and a two-hundred day simple moving average of $96.87. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, March 27th. Medtronic's payout ratio is presently 79.11%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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