Medtronic PLC $MDT Stock: apricus wealth LLC Boosts Position

Key Points

• Apricus Wealth LLC increased its Medtronic stake by 48.9% in the third quarter, owning 50,635 shares valued at approximately $4.37 million. Institutional investors collectively hold 82.06% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $102.88; 18 analysts rate the stock a Buy, nine a Hold and one a Sell.
• Medtronic recently exceeded quarterly earnings and revenue expectations, reporting $1.45 in EPS on $9.76 billion in revenue, while paying a quarterly dividend of $0.72, equivalent to a 3.0% annualized yield.

apricus wealth LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 48.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,635 shares of the medical technology company's stock after acquiring an additional 16,620 shares during the period. Medtronic makes up approximately 2.0% of apricus wealth LLC's portfolio, making the stock its 14th biggest holding. apricus wealth LLC's holdings in Medtronic were worth $4,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank lifted its stake in shares of Medtronic by 1.2% in the third quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company's stock valued at $794,000 after purchasing an additional 110 shares during the period. Petredis Investment Advisors LLC grew its position in Medtronic by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company's stock worth $2,275,000 after buying an additional 114 shares during the period. Arlington Trust Co LLC grew its position in Medtronic by 11.6% during the second quarter. Arlington Trust Co LLC now owns 1,157 shares of the medical technology company's stock worth $91,000 after buying an additional 120 shares during the period. Bigelow Investment Advisors LLC increased its holdings in Medtronic by 1.1% in the first quarter. Bigelow Investment Advisors LLC now owns 11,125 shares of the medical technology company's stock valued at $964,000 after buying an additional 121 shares in the last quarter. Finally, Bank & Trust Co increased its holdings in Medtronic by 2.8% in the second quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company's stock valued at $342,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MDT. Wells Fargo & Company lifted their price target on shares of Medtronic from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $92.00 price target on shares of Medtronic in a report on Thursday, September 3rd. Barclays upgraded Medtronic to a "hold" rating in a report on Wednesday, October 7th. Weiss Ratings raised Medtronic from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Medtronic in a report on Thursday, September 17th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given 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.

Insider Transactions at Medtronic

In related news, EVP Harry Kiil sold 1,483 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 42,186 shares in the company, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Geoffrey Martha sold 50,000 shares of the business'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 owned 277,866 shares in the company, valued at approximately $26,397,270. This represents a 15.25% decrease in their position. 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 sold 61,903 shares of company stock valued at $5,889,203 over the last 90 days. Corporate insiders own 0.27% of the company's stock.

Medtronic Stock Performance

NYSE MDT opened at $94.72 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The business has a fifty day moving average of $91.37 and a 200-day moving average of $88.43. The stock has a market cap of $121.17 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.23 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

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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