Principal Financial Group Inc. Acquires 242,910 Shares of Medtronic PLC $MDT

Principal Financial Group Inc. lifted its holdings in Medtronic PLC (NYSE:MDT) by 17.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,656,155 shares of the medical technology company’s stock after acquiring an additional 242,910 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Medtronic worth $157,732,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Riverbend Wealth Management LLC grew its holdings in shares of 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 lifted its position in Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after purchasing an additional 110 shares during the period. Meridian Investment Counsel Inc. grew its stake 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 worth $2,692,000 after buying an additional 110 shares in the last quarter. Saxony Capital Management LLC increased its holdings in Medtronic by 3.8% in the 3rd 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. raised its position in shares of Medtronic by 3.2% in the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after buying an additional 113 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. CICC Research started coverage on shares of Medtronic in a research report on Friday. They set an “outperform” rating on the stock. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. JPMorgan Chase & Co. upped their price objective on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Truist Financial lowered their target price on Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Trading Up 1.9%

Shares of MDT stock opened at $102.96 on Monday. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The stock’s fifty day simple moving average is $99.60 and its 200 day simple moving average is $95.73. 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 has a market capitalization of $131.99 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.71 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the firm posted $1.26 earnings per share. The business’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. As a group, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio is 76.55%.

Medtronic Profile

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).