Medtronic PLC $MDT Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,063,880 shares of the medical technology company’s stock after selling 129,922 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Medtronic worth $102,186,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MDT. Corundum Trust Company INC acquired a new stake in Medtronic during the third quarter valued at approximately $27,000. Board of the Pension Protection Fund bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $29,000. GoalVest Advisory LLC acquired a new stake in shares of Medtronic during the 4th quarter valued at approximately $29,000. Valley Wealth Managers Inc. acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $29,000. Finally, Delos Wealth Advisors LLC bought a new position in Medtronic during the second quarter worth $27,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MDT. Truist Financial lowered their target price 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. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup initiated coverage on shares of Medtronic in a report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price target for the company. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Finally, William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. One 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 stock. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $110.74.

Medtronic Stock Up 1.0%

MDT stock opened at $86.57 on Wednesday. The stock has a market cap of $111.15 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.21 and a beta of 0.71. The firm’s 50-day simple moving average is $95.34 and its 200 day simple moving average is $96.41. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two 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.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. Medtronic’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current 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 annualized dividend and a yield of 3.3%. Medtronic’s payout ratio is presently 79.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was 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 owned 32,768 shares in the company, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Medtronic Company 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).