Medtronic PLC $MDT Shares Sold by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB has reduced its stake in Medtronic PLC by **31.0%**, now holding approximately **1.27 million shares** valued at **$110.5 million**.
• Insider activity includes **Director William R. Jellison** buying **2,500 shares**, increasing his ownership by **100%**, while **EVP Harry Skip Kiil** sold **8,605 shares**, reducing his stake by **19.46%**.
• Medtronic reported **$1.26 earnings per share** for the latest quarter, surpassing analysts' expectations, with reported revenues of **$8.58 billion**, a **7.7%** year-over-year increase.

Nordea Investment Management AB reduced its stake in Medtronic PLC (NYSE:MDT - Free Report) by 31.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,269,448 shares of the medical technology company's stock after selling 569,399 shares during the quarter. Nordea Investment Management AB owned 0.10% of Medtronic worth $110,505,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 1248 Management LLC acquired a new position in shares of Medtronic in the 1st quarter worth approximately $26,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in Medtronic in the 1st quarter valued at approximately $29,000. Activest Wealth Management boosted its position in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock valued at $30,000 after buying an additional 322 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in Medtronic in the 1st quarter valued at approximately $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Medtronic Price Performance

Shares of MDT opened at $95.62 on Friday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The firm's fifty day simple moving average is $94.07 and its 200-day simple moving average is $88.98. The firm has a market capitalization of $122.65 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.50 and a beta of 0.78. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the business earned $1.23 EPS. The company's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MDT shares. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Morgan Stanley reissued an "overweight" rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Wells Fargo & Company raised their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a "buy (b-)" rating on shares of Medtronic in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $111.00 price target on shares of Medtronic in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

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