5,700 Medtronic PLC $MDT Shares Sold by Chiron Capital Management LLC

Chiron Capital Management LLC lessened its stake in Medtronic PLC (NYSE:MDT) by 58.0% in the third quarter, Holdings Channel reports. The institutional investor owned 4,121 shares of the medical technology company’s stock after selling 5,700 shares during the quarter. Chiron Capital Management LLC’s holdings in Medtronic were worth $356,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Monetary Solutions Ltd acquired a new stake in shares of Medtronic during the fourth quarter worth $27,000. IAG Wealth Partners LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at about $30,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Medtronic in the 2nd quarter valued at about $32,000. Community Bank N.A. bought a new stake in shares of Medtronic during the 2nd quarter valued at about $33,000. Finally, Core Capital Management & Research inc. bought a new stake in shares of Medtronic during the 2nd quarter valued at about $33,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction that occurred on Wednesday, September 16th. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock traded up $1.11 during trading hours on Thursday, reaching $95.34. The stock had a trading volume of 6,965,303 shares, compared to its average volume of 11,091,905. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The firm has a 50-day simple moving average of $90.68 and a 200-day simple moving average of $84.88. The firm has a market capitalization of $121.96 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.12 and a beta of 0.55.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. The firm had revenue of $9.76 billion for 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 quarterly revenue was up 13.7% compared to the same quarter last year. During the same period 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. As a group, equities analysts forecast that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a $0.72 dividend. The ex-dividend date is 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 Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Wednesday. Robert W. Baird upped their target price on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Weiss Ratings upgraded Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 4th. BTIG Research cut their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial reissued a “hold” rating and issued a $99.00 price target (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average price target of $102.88.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: MiniMed separation completed: Medtronic announced that MiniMed Group, Inc. is now an independent Nasdaq-listed company under the ticker MMED. The transaction could sharpen Medtronic’s focus on its remaining medical-device businesses, simplify its portfolio and potentially improve investor valuation of the separate companies. Medtronic Completes Separation of MiniMed Group
• Positive Sentiment: Favorable analyst read-through: Piper Sandler described recent developments as a “positive read-through” for MDT, which may be supporting investor sentiment. The supplied report does not provide additional details on the analyst’s rationale. Piper Sandler positive read-through
• Neutral Sentiment: Final exchange results announced: Medtronic reported the final results of its exchange offer involving MiniMed shares. Completion removes transaction uncertainty, although the supplied information does not disclose participation levels or the resulting ownership impact. Final MiniMed exchange results
• Neutral Sentiment: Income-investor appeal: Articles continue to highlight Medtronic’s long record of dividend payments and comparatively attractive yield, which may support defensive demand for the stock but is not a new earnings catalyst. Healthcare dividend stocks
• Negative Sentiment: ETF selling: ETFs reportedly sold approximately $222.5 million of MDT shares on October 13, indicating notable institutional supply that could weigh on the stock, although the activity predates today’s separation announcement. ETF sales of Medtronic shares

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.