Ameriprise Financial Inc. Has $1.27 Billion Stock Position in Medtronic PLC $MDT

Ameriprise Financial Inc. trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,597,680 shares of the medical technology company’s stock after selling 883,348 shares during the period. Ameriprise Financial Inc. owned approximately 1.14% of Medtronic worth $1,272,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. 1248 Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth $26,000. Twin Tree Management LP bought a new stake in shares of Medtronic in the 1st quarter worth approximately $29,000. Activest Wealth Management lifted its position in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares during the period. GFG Capital LLC bought a new position in shares of Medtronic in the second quarter valued at approximately $36,000. Finally, True Wealth Design LLC lifted its holdings in Medtronic by 49.8% in the second quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock valued at $37,000 after buying an additional 140 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MDT shares. Truist Financial upped their price objective on Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Robert W. Baird boosted their price target on shares of Medtronic from $103.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. Finally, Argus lifted their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $110.44.

Medtronic Stock Performance

NYSE:MDT opened at $99.86 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $97.27 and its 200 day simple moving average is $92.80. The stock has a market cap of $128.02 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 2.63 and a beta of 0.71. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The firm had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the company 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. As a group, research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

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.