Brown Advisory Inc. Lowers Holdings in Medtronic PLC $MDT

Brown Advisory Inc. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 272,432 shares of the medical technology company’s stock after selling 10,512 shares during the quarter. Brown Advisory Inc.’s holdings in Medtronic were worth $23,748,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Medtronic in the second quarter valued at about $1,432,698,000. Boston Partners lifted its holdings in shares of Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after buying an additional 3,809,450 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after buying an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after acquiring an additional 3,017,849 shares during the period. Finally, Nuveen LLC purchased a new position in Medtronic in the first quarter worth $260,649,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDT. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Sanford C. Bernstein set a $111.00 price objective on shares of Medtronic in a report on Wednesday, November 19th. Truist Financial upped their target price on shares of Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Friday, November 14th. Finally, Leerink Partners set a $120.00 price target on Medtronic and gave the stock an “outperform” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $110.44.

Medtronic Stock Down 0.6%

MDT stock opened at $101.39 on Friday. The company’s 50 day simple moving average is $96.79 and its 200-day simple moving average is $92.22. The firm has a market capitalization of $129.99 billion, a PE ratio of 27.33, a P/E/G ratio of 2.67 and a beta of 0.71. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the firm posted $1.26 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is presently 76.55%.

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.