Medtronic PLC $MDT Stock Purchased by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer increased its Medtronic stake by 1.1% in the third quarter, acquiring 10,927 shares and bringing its holdings to 1.04 million shares valued at approximately $89.5 million. Institutional investors and hedge funds own 82.06% of Medtronic.
• Medtronic insiders sold 61,903 shares worth about $5.9 million during the last quarter, including CEO Geoffrey Martha’s $4.75 million sale; both transactions were conducted under pre-arranged Rule 10b5-1 plans.
• The company exceeded quarterly earnings and revenue expectations, reporting $1.45 EPS on $9.76 billion in revenue, while revenue grew 13.7% year over year. Medtronic also pays a $0.72 quarterly dividend, equivalent to a 3.0% yield, and analysts maintain a “Moderate Buy” consensus with a $102.88 average price target.

Bank Julius Baer & Co. Ltd Zurich raised its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,035,862 shares of the medical technology company's stock after buying an additional 10,927 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.08% of Medtronic worth $89,535,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kennebec Savings Bank lifted its holdings in Medtronic by 1.2% during the 3rd quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company's stock worth $794,000 after purchasing an additional 110 shares in the last quarter. Petredis Investment Advisors LLC raised its holdings in Medtronic by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company's stock worth $2,275,000 after purchasing an additional 114 shares in the last quarter. Aviance Capital Partners LLC raised its position in Medtronic by 2.1% during the third quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company's stock worth $472,000 after acquiring an additional 114 shares during the period. Arlington Trust Co LLC lifted its stake 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 purchasing an additional 120 shares in the last quarter. Finally, Bank & Trust Co boosted its stake in Medtronic by 2.8% during the 2nd quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company's stock worth $342,000 after purchasing an additional 121 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Medtronic news, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the transaction, the chief executive officer owned 277,866 shares of the company's stock, valued at $26,397,270. This trade represents a 15.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 61,903 shares of company stock valued at $5,889,203. 0.27% of the stock is currently owned by insiders.

Medtronic Price Performance

Medtronic stock opened at $96.55 on Monday. The firm has a market capitalization of $123.50 billion, a PE ratio of 23.78, a P/E/G ratio of 2.26 and a beta of 0.56. The firm's 50-day simple moving average is $91.70 and its 200 day simple moving average is $88.34. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The firm'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, equities research analysts predict that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed 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. 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 (DPR) is presently 70.94%.

Analyst Ratings Changes

Several analysts recently issued reports on MDT shares. Weiss Ratings raised Medtronic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 19th. BTIG Research decreased their price objective on Medtronic from $100.00 to $99.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Piper Sandler reiterated a "neutral" rating on shares of Medtronic in a report on Wednesday, October 14th. Robert W. Baird upped their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, September 2nd. Finally, UBS Group reissued a "cautious" rating on shares of Medtronic in a research note on Wednesday, October 14th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.88.

Medtronic Company 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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