22,351 Medtronic PLC $MDT Shares Bought by Lido Advisors LLC

Lido Advisors LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 28.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 99,829 shares of the medical technology company’s stock after acquiring an additional 22,351 shares during the period. Lido Advisors LLC’s holdings in Medtronic were worth $8,615,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MDT. WCM Investment Management LLC purchased a new stake in Medtronic in the first quarter valued at approximately $965,922,000. First Eagle Investment Management LLC increased its position in Medtronic by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after purchasing an additional 3,739,288 shares during the last quarter. Cullen Capital Management LLC purchased a new position in Medtronic during the second quarter worth approximately $202,764,000. State Street Corp raised its stake in Medtronic by 2.7% during the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after purchasing an additional 1,658,301 shares during the period. Finally, Amundi raised its stake in Medtronic by 36.3% during the first quarter. Amundi now owns 6,070,236 shares of the medical technology company’s stock worth $525,986,000 after purchasing an additional 1,616,739 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, September 30th. Wells Fargo & Company upped their price objective on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Sunday, November 8th. Deutsche Bank reiterated a “hold” rating and issued a $92.00 target price on shares of Medtronic in a report on Thursday, September 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Insider Activity

In related news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction 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 transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction 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 in the company, valued at $26,397,270. The trade was a 15.25% decrease in their position. 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. In the last 90 days, insiders have sold 61,903 shares of company stock valued at $5,889,203. Company insiders own 0.27% of the company’s stock.

Medtronic Stock Down 0.6%

MDT opened at $100.96 on Friday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The firm has a 50 day moving average price of $93.52 and a 200 day moving average price of $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. The company has a market cap of $129.14 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.55 billion. During the same period in the previous year, the company posted $1.26 earnings per share. Medtronic’s revenue was up 13.7% compared to the same quarter last year. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is currently 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.