Medtronic PLC $MDT Stock Acquired by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC increased its Medtronic stake by 20.4% in the third quarter, adding 36,709 shares to reach 216,289 shares valued at approximately $18.7 million. Institutional investors collectively own 82.06% of MDT.
• Medtronic insiders sold 61,903 shares worth roughly $5.9 million over the past three months, including CEO Geoffrey Martha’s sale of 50,000 shares under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $102.88. Medtronic recently beat quarterly earnings and revenue estimates, while its $0.72 quarterly dividend implies a 2.9% yield.

GRIMES & Co WEALTH MANAGEMENT LLC increased its stake in Medtronic PLC (NYSE:MDT - Free Report) by 20.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,289 shares of the medical technology company's stock after purchasing an additional 36,709 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Medtronic were worth $18,664,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its stake in shares of Medtronic by 470.9% in the 3rd 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 shares of Medtronic during the second quarter worth about $30,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Medtronic during the second quarter worth about $32,000. Community Bank N.A. bought a new position in shares of Medtronic during the second quarter worth about $33,000. Finally, Core Capital Management & Research inc. bought a new position in shares of Medtronic during the second quarter worth about $33,000. Institutional investors own 82.06% of the company's stock.

Insider Activity

In other news, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,903 shares of company stock valued at $5,889,203 over the last three months. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Truist Financial reissued a "hold" rating and issued a $99.00 target price (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday. BTIG Research decreased their price target on shares of Medtronic from $100.00 to $99.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $118.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. Finally, Piper Sandler reissued a "neutral" rating on shares of Medtronic in a research report on Wednesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.88.

Medtronic Stock Up 2.9%

Medtronic stock opened at $99.34 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The company's 50-day moving average is $91.82 and its 200-day moving average is $88.36. The firm has a market capitalization of $127.08 billion, a PE ratio of 24.47, a P/E/G ratio of 2.22 and a beta of 0.55. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

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. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the business posted $1.26 EPS. Medtronic'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. Sell-side analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic's dividend payout ratio (DPR) is presently 70.94%.

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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