Medtronic PLC $MDT Shares Sold by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance Co. reduced its Medtronic stake by 21.3% in the third quarter, selling 66,900 shares and retaining 246,590 shares valued at about $21.3 million.
• Medtronic beat quarterly earnings and revenue estimates, reporting EPS of $1.45 and revenue of $9.76 billion; revenue rose 13.7% year over year. The company forecast FY 2027 EPS of $5.94–$6.00.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $102.88. Medtronic also pays an annualized dividend of $2.88 per share, a 2.9% yield.

Factory Mutual Insurance Co. cut its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 21.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,590 shares of the medical technology company's stock after selling 66,900 shares during the quarter. Factory Mutual Insurance Co.'s holdings in Medtronic were worth $21,278,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Activest Wealth Management increased its stake in Medtronic by 470.9% in the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company's stock worth $27,000 after buying an additional 259 shares in the last quarter. IAG Wealth Partners LLC purchased a new position in shares of Medtronic in the second quarter valued at about $30,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Medtronic in the second quarter worth about $32,000. Global Assets Advisory LLC bought a new position in shares of Medtronic in the first quarter worth about $36,000. Finally, Core Capital Management & Research inc. purchased a new stake in shares of Medtronic during the second quarter worth about $33,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE MDT opened at $98.95 on Wednesday. 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 1-year low of $73.31 and a 1-year high of $106.33. The business has a 50 day simple moving average of $91.94 and a two-hundred day simple moving average of $88.36. The stock has a market capitalization of $126.58 billion, a PE ratio of 24.37, a P/E/G ratio of 2.32 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion for the quarter, compared to analysts' expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company's revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $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 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, September 25th. Medtronic's payout ratio is currently 70.94%.

Insider Buying and Selling

In related news, EVP Harry Kiil sold 1,483 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president owned 42,186 shares of the company's stock, valued at $3,950,718.90. This represents a 3.40% 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 link. Also, CEO Geoffrey Martha sold 50,000 shares of the company's stock in a transaction on 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 sale, 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. Over the last 90 days, insiders have sold 61,903 shares of company stock worth $5,889,203. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent analyst reports. Piper Sandler reissued a "neutral" rating on shares of Medtronic in a research note on Wednesday, October 14th. Bank of America upped their price target on Medtronic from $95.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Wells Fargo & Company increased their price objective on shares of Medtronic from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. Finally, TD Cowen reiterated a "buy" rating and set a $110.00 price objective on shares of Medtronic in a research report on Wednesday, September 30th. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $102.88.

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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