Medtronic PLC $MDT Stock: Brookstone Capital Management Raises Position

Key Points

• Brookstone Capital Management nearly doubled its Medtronic position in the third quarter, purchasing 25,289 additional shares for a total holding of 53,110 shares valued at approximately $4.58 million. Institutional investors collectively own 82.06% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy ratings, nine Holds and one Sell. Medtronic has a consensus rating of “Moderate Buy” and an average price target of $102.88.
• Medtronic reported quarterly adjusted earnings of $1.45 per share and revenue of $9.76 billion, beating estimates and posting 13.7% year-over-year revenue growth. The company also paid a quarterly dividend of $0.72 per share, representing a 3.0% yield.

Brookstone Capital Management increased its position in Medtronic PLC (NYSE:MDT - Free Report) by 90.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 53,110 shares of the medical technology company's stock after purchasing an additional 25,289 shares during the period. Brookstone Capital Management's holdings in Medtronic were worth $4,583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock valued at $8,919,846,000 after acquiring an additional 838,220 shares in the last quarter. State Street Corp lifted its stake in shares of Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company's stock worth $5,005,320,000 after buying an additional 1,658,301 shares during the last quarter. Bank of America Corp DE boosted its holdings in Medtronic by 5.4% during the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company's stock valued at $2,254,200,000 after acquiring an additional 1,343,220 shares during the period. First Eagle Investment Management LLC grew its holdings in Medtronic by 37.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company's stock valued at $1,078,321,000 after buying an additional 3,739,288 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic in the first quarter worth $965,922,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

MDT has been the subject of a number of recent research reports. Royal Bank Of Canada restated an "outperform" rating and issued a $118.00 target price on shares of Medtronic in a research note on Wednesday, September 2nd. Mizuho set a $115.00 target price on Medtronic in a research report on Wednesday, September 2nd. Wells Fargo & Company boosted their price target on shares of Medtronic from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. TD Cowen restated a "buy" rating and issued a $110.00 price objective on shares of Medtronic in a research note on Wednesday, September 30th. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a report on Wednesday, October 14th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.88.

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 10,420 shares of Medtronic stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 105,916 shares of the company's stock, valued at $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the company's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,903 shares of company stock worth $5,889,203. Insiders own 0.27% of the company's stock.

Medtronic Trading Down 1.1%

Shares of MDT stock opened at $95.48 on Friday. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The company has a market capitalization of $122.13 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.23 and a beta of 0.55. The firm has a 50-day moving average price of $91.43 and a 200 day moving average price of $85.30. 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 (NYSE:MDT - Get Free Report) last released its quarterly earnings results 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. 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 analyst estimates of $9.55 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Research analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, September 25th. 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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