Drake & Associates LLC Acquires Shares of 27,918 Medtronic PLC $MDT

Drake & Associates LLC bought a new position in Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,918 shares of the medical technology company’s stock, valued at approximately $2,524,000.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Delos Wealth Advisors LLC acquired a new stake in shares of Medtronic during the second quarter worth approximately $27,000. Corundum Trust Company INC bought a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Valley Wealth Managers Inc. acquired a new stake in Medtronic during the 3rd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. bought a new position in Medtronic in the 3rd quarter valued at $33,000. Finally, Tripletail Wealth Management LLC acquired a new position in Medtronic in the third quarter worth $34,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.3%

NYSE:MDT opened at $101.07 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The firm has a market capitalization of $129.58 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.67 and a beta of 0.71. The business’s 50-day moving average price is $99.34 and its two-hundred day moving average price is $96.32.

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. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.Medtronic’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MDT shares. TD Cowen restated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Jefferies Financial Group restated a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a research report on Wednesday, November 19th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Leerink Partners set a $120.00 price target on shares of Medtronic and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Finally, Sanford C. Bernstein boosted their price objective on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Sixteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average target price of $111.21.

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).