Redmond Asset Management LLC Purchases 15,192 Shares of Medtronic PLC $MDT

Redmond Asset Management LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 292.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,378 shares of the medical technology company’s stock after buying an additional 15,192 shares during the quarter. Redmond Asset Management LLC’s holdings in Medtronic were worth $1,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Kennebec Savings Bank grew its holdings in shares of Medtronic by 1.2% in the third quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company’s stock valued at $794,000 after acquiring an additional 110 shares in the last quarter. Petredis Investment Advisors LLC increased its position in shares of Medtronic by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock valued at $2,275,000 after acquiring an additional 114 shares during the last quarter. Arlington Trust Co LLC increased its position in shares of Medtronic by 11.6% during the second quarter. Arlington Trust Co LLC now owns 1,157 shares of the medical technology company’s stock valued at $91,000 after acquiring an additional 120 shares during the last quarter. Bank & Trust Co increased its position in shares of Medtronic by 2.8% during the second quarter. Bank & Trust Co now owns 4,373 shares of the medical technology company’s stock valued at $342,000 after acquiring an additional 121 shares during the last quarter. Finally, One Wealth Capital Management LLC lifted its holdings in Medtronic by 3.0% during the third quarter. One Wealth Capital Management LLC now owns 4,240 shares of the medical technology company’s stock worth $366,000 after acquiring an additional 123 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of Medtronic 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 transaction, the executive vice president directly owned 105,916 shares of the company’s stock, valued at approximately $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is currently owned by corporate insiders.

Medtronic Trading Up 0.8%

NYSE:MDT opened at $94.70 on Thursday. 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 $121.14 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 2.23 and a beta of 0.55. The firm’s 50 day moving average is $91.56 and its 200 day moving average is $88.35. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $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. Sell-side analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were given a dividend of $0.72 per share. The ex-dividend date 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 70.94%.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Exchange-traded funds purchased approximately $18 million of Medtronic shares on October 26, providing evidence of institutional demand and potentially supporting the stock. ETFs Bought $18.0 Million of Medtronic
• Positive Sentiment: Analyst commentary highlights Medtronic’s broader growth opportunities and relatively attractive valuation. Potential drivers include new product launches, procedure recovery and expansion in higher-growth medical-device markets. Medtronic: Broader Growth, Attractive Valuation
• Positive Sentiment: The global leadless-pacemaker market is forecast to expand at a 12.8% compound annual growth rate through 2036, reaching $4.87 billion. Medtronic’s presence in cardiac rhythm management gives it exposure to this long-term opportunity, although the report is industry-wide rather than company-specific. Global Leadless Pacemakers Market Forecast
• Neutral Sentiment: Medtronic’s upcoming fiscal second-quarter 2027 report is the key near-term catalyst. Analysts expect a low-single-digit profit decline, while the company’s latest guidance calls for quarterly EPS of $1.32–$1.34 and full-year EPS of $5.94–$6.00. Results and guidance could determine the next major move. Medtronic’s Q2 2027 Earnings: What to Expect
• Negative Sentiment: Medtronic’s latest dividend increase extended its 49-year streak, but the relatively modest raise may be less compelling to income investors than faster payout growth from Abbott and Johnson & Johnson. Medtronic Raised Its Dividend Again

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDT. Wells Fargo & Company raised their target price on Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Evercore set a $105.00 target price on Medtronic in a research note on Monday, July 6th. Bank of America boosted their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Robert W. Baird boosted their price target 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, Stifel Nicolaus increased their price target on shares of Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, September 2nd. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

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.