Sawyer & Company Inc Acquires New Holdings in Medtronic PLC $MDT

Key Points

• Sawyer & Company acquired 21,750 Medtronic shares during the third quarter, valued at approximately $1.88 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 “Moderate Buy” consensus rating and an average price target of $102.88.
• Medtronic recently exceeded quarterly earnings and revenue expectations, while paying a $0.72 quarterly dividend, equivalent to a 3.1% yield. Shares were trading at $93.56, down 1.1% in the latest session.

Sawyer & Company Inc acquired a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 21,750 shares of the medical technology company's stock, valued at approximately $1,877,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Activest Wealth Management lifted its stake in 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 purchased a new position in shares of Medtronic in the second quarter valued at approximately $30,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Medtronic in the second quarter valued at approximately $32,000. Community Bank N.A. acquired a new position in shares of Medtronic in the second quarter valued at approximately $33,000. Finally, Core Capital Management & Research inc. acquired a new position in shares of Medtronic in the second quarter valued at approximately $33,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on MDT. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a research report on Wednesday, October 14th. Wells Fargo & Company lifted their target price on Medtronic from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. Truist Financial reissued a "hold" rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a research note on Wednesday, September 2nd. Finally, Mizuho set a $115.00 price target on Medtronic in a report on Wednesday, September 2nd. Eighteen investment 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. According to MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $102.88.

Medtronic Stock Down 1.1%

NYSE:MDT traded down $1.07 during trading hours on Wednesday, hitting $93.56. The company's stock had a trading volume of 2,732,229 shares, compared to its average volume of 11,439,542. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $119.68 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.17 and a beta of 0.55. The stock has a fifty day moving average of $91.18 and a 200-day moving average of $85.11.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The firm had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. Medtronic's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $1.26 EPS. 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 analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, September 25th. Medtronic's payout ratio is presently 70.94%.

Insiders Place Their Bets

In related news, EVP Harry Kiil sold 1,483 shares of the business's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Marinaro sold 10,420 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 105,916 shares in the company, valued at $10,167,936. This represents a 8.96% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is owned by corporate insiders.

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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