Beutel Goodman & Co Ltd. Raises Stock Position in Medtronic PLC $MDT

Beutel Goodman & Co Ltd. grew its position in Medtronic PLC (NYSE:MDT) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,907,266 shares of the medical technology company’s stock after purchasing an additional 115,209 shares during the period. Medtronic makes up approximately 2.4% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 9th biggest position. Beutel Goodman & Co Ltd. owned 0.38% of Medtronic worth $427,766,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MDT. Dodge & Cox boosted its position in shares of Medtronic by 0.4% during the second quarter. Dodge & Cox now owns 7,740,383 shares of the medical technology company’s stock worth $674,729,000 after buying an additional 31,550 shares during the period. Great Diamond Partners LLC acquired a new stake in Medtronic in the 2nd quarter valued at approximately $446,000. Miramar Capital LLC raised its stake in Medtronic by 0.6% during the 2nd quarter. Miramar Capital LLC now owns 146,997 shares of the medical technology company’s stock valued at $12,814,000 after acquiring an additional 903 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Medtronic by 51.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,790 shares of the medical technology company’s stock valued at $679,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Medtronic by 3.9% during the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after acquiring an additional 666,557 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.0%

Shares of NYSE:MDT opened at $101.93 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The stock has a market capitalization of $130.68 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.69 and a beta of 0.71. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $106.33. The company has a 50 day moving average price of $96.65 and a 200 day moving average price of $92.08.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates 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 14.86% and a net margin of 13.71%.The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.55%.

Analyst Ratings Changes

A number of research analysts have recently commented on MDT shares. Robert W. Baird raised their price target on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Sanford C. Bernstein set a $111.00 target price on shares of Medtronic in a research report on Wednesday, November 19th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Leerink Partners set a $120.00 price target on shares of Medtronic and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, UBS Group increased their price objective on shares of Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $110.44.

Medtronic Company Profile

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.