M&G PLC Sells 185,546 Shares of Medtronic PLC $MDT

M&G PLC trimmed its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,716,148 shares of the medical technology company's stock after selling 185,546 shares during the quarter. Medtronic accounts for approximately 1.6% of M&G PLC's portfolio, making the stock its 11th largest holding. M&G PLC owned about 0.29% of Medtronic worth $319,589,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Activest Wealth Management boosted its stake in shares of Medtronic by 470.9% during the 3rd quarter. Activest Wealth Management now owns 314 shares of the medical technology company's stock worth $27,000 after acquiring an additional 259 shares in the last quarter. IAG Wealth Partners LLC acquired a new position in shares of Medtronic during the 2nd quarter worth $30,000. Team Financial Group LLC acquired a new position in shares of Medtronic during the 3rd quarter worth $31,000. Avion Wealth grew its stake in Medtronic by 97.8% in the 3rd quarter. Avion Wealth now owns 362 shares of the medical technology company's stock valued at $31,000 after acquiring an additional 179 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Medtronic during the second quarter worth about $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDT has been the topic of several recent research reports. BTIG Research reduced their price target on shares of Medtronic from $100.00 to $99.00 and set a "buy" rating on the stock in a report on Monday, October 12th. TD Cowen reissued a "buy" rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, September 30th. Weiss Ratings raised shares of 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 set a $92.00 price target on shares of Medtronic in a report on Thursday, September 3rd. Finally, Bank of America lifted their target price on shares of Medtronic from $95.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.88.

Medtronic Price Performance

MDT opened at $102.73 on Tuesday. The company's 50 day simple moving average is $92.93 and its 200 day simple moving average is $88.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock has a market capitalization of $131.41 billion, a PE ratio of 25.30, a P/E/G ratio of 2.46 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. Medtronic's revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm 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, sell-side analysts expect that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.8%. Medtronic's dividend payout ratio (DPR) is presently 70.94%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the business'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 completion of the sale, the executive vice president owned 42,186 shares of the company's stock, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Geoffrey Martha sold 50,000 shares of the company'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 sale, the chief executive officer owned 277,866 shares of the company's stock, valued at $26,397,270. This represents a 15.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 61,903 shares of company stock valued at $5,889,203. Company insiders own 0.27% of the company's stock.

About Medtronic

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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