Medtronic PLC $MDT Shares Purchased by Redmond Asset Management LLC

Key Points

• Redmond Asset Management increased its Medtronic stake by 292.9% in the third quarter, purchasing 15,192 additional shares for a total holding worth approximately $1.76 million. Institutional investors collectively own 82.06% of MDT.
• Medtronic reported quarterly earnings of $1.45 per share and revenue of $9.76 billion, exceeding analyst expectations, while revenue grew 13.7% year over year. The company projects fiscal 2027 EPS of $5.94–$6.00.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $102.88 versus the stock’s reported $94.70 price. Medtronic also pays a quarterly dividend of $0.72, representing a 3.0% annualized yield.

Redmond Asset Management LLC grew its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 292.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,378 shares of the medical technology company's stock after purchasing an additional 15,192 shares during the quarter. Redmond Asset Management LLC's holdings in Medtronic were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Gradient Investments LLC lifted its position in shares of Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company's stock valued at $38,842,000 after acquiring an additional 18,509 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Medtronic by 14.8% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company's stock worth $12,918,000 after purchasing an additional 19,315 shares during the period. Czech National Bank increased 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 valued at $28,589,000 after purchasing an additional 16,292 shares in the last quarter. Worth Asset Management LLC bought a new stake in Medtronic in the third quarter valued at $1,056,000. Finally, Congress Asset Management Co. bought a new stake in Medtronic in the third quarter valued at $76,201,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Michael Marinaro sold 10,420 shares of the firm's stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the transaction, the executive vice president owned 105,916 shares in the company, valued at $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction 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 sale, 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 61,903 shares of company stock worth $5,889,203 in the last quarter. Insiders own 0.27% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock opened at $94.70 on Thursday. The firm has a market capitalization of $121.14 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 2.23 and a beta of 0.55. The firm has a fifty day simple moving average of $91.56 and a two-hundred day simple moving average of $88.35. 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 PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The business's revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Analysts forecast that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic's dividend payout ratio is currently 70.94%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MDT shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $118.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. Truist Financial restated a "hold" rating and issued a $99.00 target price (up from $86.00) on shares of Medtronic in a research note on Wednesday, September 2nd. Stifel Nicolaus raised their target price on Medtronic from $80.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, September 2nd. Needham & Company LLC reaffirmed a "buy" rating on shares of Medtronic in a research report on Thursday, September 17th. Finally, Mizuho set a $115.00 price target on Medtronic in a research note on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $102.88.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Exchange-traded funds purchased approximately $18 million of Medtronic shares on October 26, providing evidence of institutional demand and potentially supporting the stock. ETFs Bought $18.0 Million of Medtronic
• Positive Sentiment: Analyst commentary highlights Medtronic’s broader growth opportunities and relatively attractive valuation. Potential drivers include new product launches, procedure recovery and expansion in higher-growth medical-device markets. Medtronic: Broader Growth, Attractive Valuation
• Positive Sentiment: The global leadless-pacemaker market is forecast to expand at a 12.8% compound annual growth rate through 2036, reaching $4.87 billion. Medtronic’s presence in cardiac rhythm management gives it exposure to this long-term opportunity, although the report is industry-wide rather than company-specific. Global Leadless Pacemakers Market Forecast
• Neutral Sentiment: Medtronic’s upcoming fiscal second-quarter 2027 report is the key near-term catalyst. Analysts expect a low-single-digit profit decline, while the company’s latest guidance calls for quarterly EPS of $1.32–$1.34 and full-year EPS of $5.94–$6.00. Results and guidance could determine the next major move. Medtronic’s Q2 2027 Earnings: What to Expect
• Negative Sentiment: Medtronic’s latest dividend increase extended its 49-year streak, but the relatively modest raise may be less compelling to income investors than faster payout growth from Abbott and Johnson & Johnson. Medtronic Raised Its Dividend Again

Medtronic Company 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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