Medtronic PLC $MDT Stock: Nippon Life Global Investors Americas Inc. Lowers Stake

Nippon Life Global Investors Americas Inc. cut its stake in Medtronic PLC (NYSE:MDT) by 14.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 404,280 shares of the medical technology company’s stock after selling 66,910 shares during the period. Medtronic accounts for 1.4% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 22nd biggest holding. Nippon Life Global Investors Americas Inc.’s holdings in Medtronic were worth $35,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Columbia Bank raised its stake in Medtronic by 4.5% during the 3rd quarter. Columbia Bank now owns 2,895 shares of the medical technology company’s stock valued at $250,000 after acquiring an additional 125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Medtronic in the third quarter worth $31,625,000. Aviance Capital Partners LLC grew its stake in shares of Medtronic by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company’s stock worth $472,000 after purchasing an additional 114 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Medtronic by 2.2% during the third quarter. ProShare Advisors LLC now owns 2,231,555 shares of the medical technology company’s stock valued at $192,561,000 after purchasing an additional 48,688 shares during the period. Finally, Vise Technologies Inc. raised its stake in shares of Medtronic by 4.1% during the third quarter. Vise Technologies Inc. now owns 57,325 shares of the medical technology company’s stock valued at $4,947,000 after purchasing an additional 2,268 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MDT shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a research note on Wednesday, September 2nd. Stifel Nicolaus lifted their target price on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. Truist Financial reaffirmed a “hold” rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Barclays raised Medtronic to a “hold” rating in a report on Wednesday, October 7th. Finally, Bank of America lifted their price target on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.88.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value 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. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at $26,397,270. This trade represents 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. Over the last three months, insiders have sold 61,903 shares of company stock valued at $5,889,203. Corporate insiders own 0.27% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $96.55 on Monday. The company has a market capitalization of $123.50 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 2.26 and a beta of 0.56. Medtronic PLC has a 1-year low of $73.31 and a 1-year 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’s fifty day simple moving average is $91.70 and its 200-day simple moving average is $88.34.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. 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, sell-side analysts predict that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is presently 70.94%.

About Medtronic

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.