New York Life Investment Management LLC Has $16.58 Million Stock Position in Medtronic PLC $MDT

New York Life Investment Management LLC lowered its position in Medtronic PLC (NYSE:MDT) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,127 shares of the medical technology company’s stock after selling 4,927 shares during the quarter. New York Life Investment Management LLC’s holdings in Medtronic were worth $16,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AXQ Capital LP lifted its position in shares of Medtronic by 25.6% during the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after purchasing an additional 2,013 shares in the last quarter. UMB Bank n.a. raised its position in Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after purchasing an additional 54,898 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Medtronic by 17.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,656,155 shares of the medical technology company’s stock worth $157,732,000 after buying an additional 242,910 shares in the last quarter. Willis Investment Counsel boosted its position in Medtronic by 5.0% in the 3rd quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after buying an additional 19,192 shares during the last quarter. Finally, Sector Gamma AS increased its stake in shares of Medtronic by 35.5% in the 3rd quarter. Sector Gamma AS now owns 303,441 shares of the medical technology company’s stock valued at $28,900,000 after buying an additional 79,441 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MDT. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Morgan Stanley upped their target price 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, November 19th. Wells Fargo & Company initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “overweight” rating and a $114.00 price target for the company. Finally, UBS Group reaffirmed a “neutral” rating and issued a $104.00 price objective on shares of Medtronic in a research note on Wednesday, February 4th. Sixteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.21.

Medtronic Stock Down 1.2%

Medtronic stock opened at $101.69 on Tuesday. The firm has a market capitalization of $130.37 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.71 and a beta of 0.71. The company’s 50 day simple moving average is $99.37 and its 200 day simple moving average is $96.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS 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 business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a 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%.

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).