Ethic Inc. Lowers Holdings in Medtronic PLC $MDT

Ethic Inc. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,412 shares of the medical technology company’s stock after selling 11,006 shares during the quarter. Ethic Inc.’s holdings in Medtronic were worth $12,897,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC increased its stake in shares of Medtronic by 0.6% during the third quarter. Mattson Financial Services LLC now owns 46,700 shares of the medical technology company’s stock worth $4,448,000 after acquiring an additional 294 shares during the period. Optivise Advisory Services LLC acquired a new position in Medtronic during the 3rd quarter worth approximately $208,000. Regatta Capital Group LLC increased its position in Medtronic by 1.0% during the 3rd quarter. Regatta Capital Group LLC now owns 21,347 shares of the medical technology company’s stock worth $2,033,000 after purchasing an additional 220 shares during the period. Perigon Wealth Management LLC raised its stake in shares of Medtronic by 23.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 18,366 shares of the medical technology company’s stock worth $1,749,000 after buying an additional 3,535 shares in the last quarter. Finally, Great Oak Capital Partners LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at approximately $604,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $96.52 on Monday. The firm has a market capitalization of $123.74 billion, a PE ratio of 26.02, a P/E/G ratio of 2.54 and a beta of 0.71. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $106.33. The firm’s 50-day simple moving average is $97.54 and its 200 day simple moving average is $93.80. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

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

Medtronic Dividend Announcement

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 given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, December 26th. Medtronic’s payout ratio is currently 76.55%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MDT shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, November 19th. JPMorgan Chase & Co. boosted their target price on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Medtronic in a research note on Monday, December 15th. Finally, UBS Group upped their target price on shares of Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. One investment 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.94.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).