Medtronic PLC $MDT Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. increased its stake in shares of Medtronic PLC (NYSE:MDT) by 41.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,921,480 shares of the medical technology company’s stock after buying an additional 2,333,686 shares during the quarter. Alliancebernstein L.P. owned about 0.62% of Medtronic worth $754,442,000 at the end of the most recent quarter.

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

Insider Transactions at Medtronic

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 shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Performance

Shares of MDT opened at $87.05 on Friday. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The company has a 50-day moving average of $97.96 and a two-hundred day moving average of $96.87. The stock has a market cap of $111.77 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.23 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective on the stock. Mizuho upgraded shares of Medtronic to a “strong-buy” rating in a report on Wednesday, February 18th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Truist Financial dropped their price target on Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. Finally, Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. 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 stock. According to MarketBeat.com, the stock currently 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).