Medtronic PLC $MDT Stock: Commonwealth Equity Services LLC Increases Holdings

Key Points

• Commonwealth Equity Services increased its Medtronic stake by 3.8% in the third quarter, ending with 572,557 shares valued at about $49.4 million. Institutional investors and hedge funds collectively own 82.06% of the company.
• Medtronic beat quarterly expectations, reporting adjusted earnings of $1.45 per share and $9.76 billion in revenue; revenue grew 13.7% year over year. The company provided fiscal 2027 EPS guidance of $5.94–$6.00.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $102.88. Company insiders sold 61,903 shares worth about $5.9 million over the past 90 days.

Commonwealth Equity Services LLC grew its position in Medtronic PLC (NYSE:MDT - Free Report) by 3.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 572,557 shares of the medical technology company's stock after acquiring an additional 21,134 shares during the period. Commonwealth Equity Services LLC's holdings in Medtronic were worth $49,406,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cowa LLC bought a new stake in Medtronic during the 3rd quarter worth $235,000. Chicago Partners Investment Group LLC raised its position in Medtronic by 59.4% in the third quarter. Chicago Partners Investment Group LLC now owns 31,979 shares of the medical technology company's stock valued at $3,051,000 after purchasing an additional 11,919 shares during the last quarter. Verity Asset Management Inc. raised its position in Medtronic by 4.1% in the third quarter. Verity Asset Management Inc. now owns 3,413 shares of the medical technology company's stock valued at $295,000 after purchasing an additional 135 shares during the last quarter. Ascent Group LLC raised its position in Medtronic by 20.5% in the third quarter. Ascent Group LLC now owns 23,220 shares of the medical technology company's stock valued at $2,004,000 after purchasing an additional 3,955 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. raised its position in Medtronic by 4.1% in the third quarter. Signet Investment Advisory Group Inc. now owns 34,828 shares of the medical technology company's stock valued at $3,005,000 after purchasing an additional 1,357 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 42,186 shares of the company's stock, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 10,420 shares of the firm's stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the transaction, the executive vice president owned 105,916 shares of the company's stock, valued at approximately $10,167,936. The trade was a 8.96% 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. In the last 90 days, insiders sold 61,903 shares of company stock valued at $5,889,203. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating on shares of Medtronic in a research note on Thursday, September 17th. Weiss Ratings raised Medtronic from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. UBS Group reiterated a "cautious" rating on shares of Medtronic in a report on Wednesday, October 14th. Finally, Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Sunday. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $102.88.

Medtronic Trading Down 2.9%

NYSE MDT opened at $101.82 on Friday. The business's 50-day moving average price is $92.70 and its two-hundred day moving average price is $88.45. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The firm has a market capitalization of $130.24 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The company had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $9.55 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business's quarterly 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. On average, analysts expect that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were issued a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 2.8%. Medtronic's dividend payout ratio is presently 70.94%.

Medtronic Company Profile

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products.

The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.

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