Medtronic Sees Unusually High Options Volume (NYSE:MDT)

Medtronic PLC (NYSE:MDT) saw some unusual options trading on Tuesday. Stock investors bought 16,012 call options on the company. This represents an increase of 38% compared to the typical daily volume of 11,621 call options.

Insider Activity

In other news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Institutional investors and hedge funds have recently modified their holdings of the stock. 1248 Management LLC bought a new stake in shares of Medtronic during the 1st quarter worth about $26,000. Delos Wealth Advisors LLC acquired a new stake in Medtronic during the second quarter worth approximately $27,000. Corundum Trust Company INC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter worth approximately $29,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Medtronic during the third quarter worth approximately $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 4.7%

Medtronic stock opened at $100.83 on Wednesday. The stock has a 50-day simple moving average of $94.64 and a 200 day simple moving average of $90.63. The stock has a market capitalization of $129.33 billion, a P/E ratio of 27.78, a PEG ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic has a 52 week low of $79.29 and a 52 week high of $102.48.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MDT shares. Citigroup raised their target price on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Truist Financial upped their target price on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research report on Friday. Finally, Cowen restated a “buy” rating on shares of Medtronic in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.06.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.