Gradient Investments LLC Raises Position in Medtronic PLC $MDT

Gradient Investments LLC raised its position in Medtronic PLC (NYSE:MDT) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 479,133 shares of the medical technology company’s stock after buying an additional 15,870 shares during the period. Gradient Investments LLC’s holdings in Medtronic were worth $46,026,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Medtronic in the second quarter valued at approximately $1,432,698,000. Barclays PLC increased its position in shares of Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after purchasing an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group raised its stake in Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after purchasing an additional 3,307,211 shares during the last quarter. Guinness Asset Management LTD acquired a new position in Medtronic in the 3rd quarter valued at $275,556,000. Finally, Wellington Management Group LLP lifted its holdings in Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after purchasing an additional 2,658,981 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.7%

Shares of MDT opened at $86.29 on Monday. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $96.82 and a two-hundred day simple moving average of $96.72. The company has a market capitalization of $110.78 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.21 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating 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 firm had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the company posted $1.38 EPS. The company’s 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. As a group, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group reaffirmed a “neutral” rating and set a $104.00 target price on shares of Medtronic in a research note on Wednesday, February 4th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price target on shares of Medtronic in a research note on Tuesday, March 10th. Truist Financial lowered their price target on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday, February 18th. William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Finally, Sanford C. Bernstein increased their price objective on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.74.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s 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 sale, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

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).