Glenmede Investment Management LP Decreases Stake in Medtronic PLC $MDT

Glenmede Investment Management LP cut its stake in shares of Medtronic PLC (NYSE:MDT) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 507,406 shares of the medical technology company’s stock after selling 31,401 shares during the quarter. Glenmede Investment Management LP’s holdings in Medtronic were worth $48,325,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC grew its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares during the period. AE Wealth Management LLC lifted its position in shares of Medtronic by 17.1% during the 2nd quarter. AE Wealth Management LLC now owns 10,420 shares of the medical technology company’s stock valued at $908,000 after acquiring an additional 1,521 shares during the period. Wealth Alliance LLC boosted its stake in shares of Medtronic by 5.7% during the 2nd quarter. Wealth Alliance LLC now owns 4,452 shares of the medical technology company’s stock worth $388,000 after acquiring an additional 242 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Medtronic by 14.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 632,959 shares of the medical technology company’s stock worth $55,175,000 after acquiring an additional 79,052 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Performance

NYSE MDT opened at $87.05 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The business has a fifty day moving average of $97.96 and a 200-day moving average of $96.84. The stock has a market cap of $111.77 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, March 27th. Medtronic’s dividend payout ratio is 79.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Mizuho upgraded Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. Robert W. Baird lowered their target price on Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. JPMorgan Chase & Co. dropped their price target on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target on shares of Medtronic in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.74.

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).