Medtronic PLC $MDT Stock Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC trimmed its position in Medtronic PLC (NYSE:MDT) by 34.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,454 shares of the medical technology company’s stock after selling 5,481 shares during the period. Cornerstone Wealth Management LLC’s holdings in Medtronic were worth $902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Genesis Private Wealth LLC raised its stake in Medtronic by 2.0% during the third quarter. Genesis Private Wealth LLC now owns 5,170 shares of the medical technology company’s stock valued at $446,000 after buying an additional 103 shares in the last quarter. LightSquare Wealth Management LLC lifted its holdings in Medtronic by 3.6% during the 3rd quarter. LightSquare Wealth Management LLC now owns 2,932 shares of the medical technology company’s stock worth $253,000 after buying an additional 103 shares during the last quarter. Kennebec Savings Bank grew its position in shares of Medtronic by 1.2% in the 3rd quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company’s stock worth $794,000 after acquiring an additional 110 shares in the last quarter. Petredis Investment Advisors LLC grew its position in shares of Medtronic by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock worth $2,275,000 after acquiring an additional 114 shares in the last quarter. Finally, Aviance Capital Partners LLC grew its position in shares of Medtronic by 2.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company’s stock worth $472,000 after acquiring an additional 114 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

MDT opened at $100.96 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $93.52 and its 200 day moving average price is $88.46. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The firm has a market cap of $129.14 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56.

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

Medtronic Announces Dividend

The business also recently declared 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio is presently 70.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MDT shares. Truist Financial reiterated 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. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 price objective on shares of Medtronic in a research note on Wednesday, September 2nd. BTIG Research reduced their price objective on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Bank of America lifted their price objective on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, UBS Group reiterated a “cautious” rating on shares of Medtronic in a research note on Wednesday, October 14th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.88.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the completion of the transaction, the executive vice president owned 105,916 shares in the company, valued at $10,167,936. The trade was a 8.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the transaction, the chief executive officer owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. The trade was a 15.25% 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. In the last 90 days, insiders have sold 61,903 shares of company stock valued at $5,889,203. Insiders own 0.27% of the company’s stock.

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.