Medtronic PLC $MDT is Altrinsic Global Advisors LLC’s 3rd Largest Position

Altrinsic Global Advisors LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,603,062 shares of the medical technology company’s stock after selling 85,272 shares during the quarter. Medtronic comprises 9.2% of Altrinsic Global Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Altrinsic Global Advisors LLC owned approximately 0.20% of Medtronic worth $247,916,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Delos Wealth Advisors LLC bought a new position in shares of Medtronic during the second quarter valued at approximately $27,000. Corundum Trust Company INC bought a new stake in Medtronic in the third quarter valued at $27,000. Valley Wealth Managers Inc. bought a new stake in Medtronic in the third quarter valued at $29,000. Imprint Wealth LLC purchased a new position in Medtronic during the 3rd quarter valued at $31,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Medtronic during the 3rd quarter valued at $33,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $87.05 on Friday. The company’s fifty day moving average price is $97.96 and its 200-day moving average price is $96.87. The stock has a market cap of $111.77 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.23 and a beta of 0.71. The company has a current ratio of 2.54, a quick ratio of 1.87 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 results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same period last year, the business earned $1.38 EPS. Medtronic’s quarterly revenue was up 5.8% compared to the same quarter last year. 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 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on MDT shares. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Barclays reiterated an “overweight” rating and set a $118.00 price target on shares of Medtronic in a research report on Wednesday, February 18th. Truist Financial decreased their price target on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. Jefferies Financial Group restated a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a report on Wednesday, November 19th. Finally, UBS Group reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $110.74.

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).