Balefire LLC Buys 8,441 Shares of Medtronic PLC $MDT

Balefire LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 73.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,958 shares of the medical technology company’s stock after buying an additional 8,441 shares during the quarter. Balefire LLC’s holdings in Medtronic were worth $1,901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Vanguard Group Inc. boosted its stake in shares of Medtronic by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the period. Geode Capital Management LLC lifted its stake in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after purchasing an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Medtronic by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after buying an additional 595,549 shares during the period. Invesco Ltd. boosted its position in shares of Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after buying an additional 666,557 shares during the period. Finally, Norges Bank bought a new position in shares of Medtronic during the second quarter valued at approximately $1,432,698,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.7%

NYSE:MDT opened at $98.36 on Thursday. The firm has a 50-day simple moving average of $97.27 and a 200-day simple moving average of $93.21. Medtronic PLC has a one year low of $79.29 and a one year high of $106.33. The firm has a market cap of $126.09 billion, a P/E ratio of 26.51, a P/E/G ratio of 2.57 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42.

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, beating the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. Medtronic’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating and set a $110.00 price target on shares of Medtronic in a research note on Wednesday, November 19th. Barclays lifted their target price on Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Sanford C. Bernstein set a $111.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Finally, Morgan Stanley boosted their price objective on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Medtronic 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.