Medtronic PLC $MDT Shares Acquired by WASHINGTON TRUST Co

Key Points

• Washington Trust increased its Medtronic stake by 11.9% in the third quarter, acquiring 10,481 shares for a total holding of 98,863 shares valued at $8.53 million. Institutional investors and hedge funds own 82.06% of the company.
• Medtronic reported quarterly earnings of $1.45 per share, beating estimates by $0.06, while revenue rose 13.7% year over year to $9.76 billion. The company issued fiscal 2027 EPS guidance of $5.94–$6.00 and maintains a quarterly dividend of $0.72, yielding about 3%.
• Shares recently traded at $95.48, down 1.1%, while analysts maintain a “Moderate Buy” consensus with an average price target of $102.88. However, company insiders sold 61,903 shares worth approximately $5.89 million over the past 90 days.

WASHINGTON TRUST Co increased its stake in Medtronic PLC (NYSE:MDT - Free Report) by 11.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,863 shares of the medical technology company's stock after acquiring an additional 10,481 shares during the period. WASHINGTON TRUST Co's holdings in Medtronic were worth $8,531,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Activest Wealth Management boosted its holdings in Medtronic by 470.9% in the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 259 shares during the period. IAG Wealth Partners LLC acquired a new position in Medtronic during the 2nd quarter worth $30,000. Pin Oak Investment Advisors Inc. acquired a new position in Medtronic during the 2nd quarter worth $32,000. Global Assets Advisory LLC purchased a new stake in Medtronic during the 1st quarter worth about $36,000. Finally, Core Capital Management & Research inc. purchased a new stake in Medtronic during the 2nd quarter worth about $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 1.1%

Shares of NYSE:MDT traded down $1.11 during trading on Friday, hitting $95.48. 6,008,744 shares of the company were exchanged, compared to its average volume of 34,633,724. The stock has a market capitalization of $122.13 billion, a P/E ratio of 23.52, a PEG ratio of 2.26 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm's 50 day moving average price is $91.43 and its 200-day moving average price is $85.30.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to analysts' expectations 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 prior year, the business posted $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. On average, research analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic's dividend payout ratio is currently 70.94%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the firm's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the transaction, the executive vice president owned 105,916 shares of the company's stock, valued at approximately $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the firm's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the transaction, the chief executive officer directly owned 277,866 shares in the company, valued at approximately $26,397,270. The trade was a 15.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,903 shares of company stock worth $5,889,203 over the last 90 days. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of analyst reports. Truist Financial reaffirmed a "hold" rating and issued a $99.00 price target (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $92.00 price objective on shares of Medtronic in a research report on Thursday, September 3rd. Weiss Ratings raised Medtronic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, October 3rd. Finally, Stifel Nicolaus raised their target price on shares of Medtronic from $80.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, September 2nd. Eighteen 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. According to data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average 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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