Florida Trust Wealth Management Co Sells 8,586 Shares of Medtronic PLC $MDT

Florida Trust Wealth Management Co decreased its stake in shares of Medtronic PLC (NYSE:MDT) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,101 shares of the medical technology company’s stock after selling 8,586 shares during the quarter. Florida Trust Wealth Management Co’s holdings in Medtronic were worth $5,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Medtronic by 1.5% in the second 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 raised its holdings in shares of Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Medtronic by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after purchasing an additional 595,549 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Medtronic by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after buying an additional 98,220 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Medtronic by 3.9% in the 2nd 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. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Truist Financial cut their target price on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Citigroup lifted their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Finally, Royal Bank Of Canada raised their price objective on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic Stock Performance

Shares of MDT stock opened at $96.82 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The firm has a 50-day moving average of $98.99 and a 200-day moving average of $94.93. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The company has a market cap of $124.12 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.55 and a beta of 0.71.

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 analysts’ consensus estimates of $1.31 by $0.05. The business 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

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).