Medtronic PLC $MDT Stake Trimmed by Baillie Gifford & Co.

Baillie Gifford & Co. cut its position in shares of Medtronic PLC (NYSE:MDT) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 478,214 shares of the medical technology company’s stock after selling 14,640 shares during the quarter. Baillie Gifford & Co.’s holdings in Medtronic were worth $45,545,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Riverbend Wealth Management LLC grew its position in Medtronic by 3.2% during the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock worth $332,000 after purchasing an additional 107 shares in the last quarter. Wynn Capital LLC grew its holdings in shares of Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after buying an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. raised its position in Medtronic by 0.4% during the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after buying an additional 110 shares during the period. Saxony Capital Management LLC raised its position in Medtronic by 3.8% during the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock valued at $290,000 after buying an additional 112 shares during the period. Finally, Cape Investment Advisory Inc. lifted its stake in Medtronic by 3.2% in the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after acquiring an additional 113 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT opened at $100.98 on Friday. The firm has a market cap of $129.45 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.71. The company’s fifty day moving average is $99.44 and its 200-day moving average is $95.28. 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 PLC has a 12 month low of $79.55 and a 12 month high of $106.33.

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. 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 in the prior year, the company posted $1.26 earnings per share. Medtronic’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MDT shares. William Blair upgraded Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group restated a “hold” rating and set a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Finally, Royal Bank Of Canada upped their price target on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Fourteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.28.

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).