Ameriprise Financial Inc. Sells 2,062,814 Shares of Medtronic PLC $MDT

Ameriprise Financial Inc. decreased its holdings in Medtronic PLC (NYSE:MDT) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,534,866 shares of the medical technology company’s stock after selling 2,062,814 shares during the quarter. Ameriprise Financial Inc. owned 0.98% of Medtronic worth $1,193,934,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Vanguard Group Inc. increased its stake in Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after acquiring an additional 1,895,165 shares during the period. Bank of New York Mellon Corp lifted its stake in Medtronic by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after purchasing an additional 192,410 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after purchasing an additional 98,220 shares during the period. Invesco Ltd. boosted its holdings in Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after purchasing an additional 666,557 shares in the last quarter. Finally, Norges Bank acquired a new stake in Medtronic during the second quarter valued at approximately $1,432,698,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Jefferies Financial Group reiterated a “hold” rating and set a $110.00 price objective on shares of Medtronic in a research note on Wednesday, November 19th. Finally, Citigroup initiated coverage on shares of Medtronic in a research report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.74.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the company’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 transaction, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Medtronic Stock Down 0.4%

NYSE MDT opened at $87.05 on Friday. The stock’s 50 day simple moving average is $97.96 and its 200 day simple moving average is $96.87. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The firm 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 debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the previous year, the company posted $1.38 EPS. The business’s revenue for the quarter 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, sell-side analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be issued a $0.71 dividend. 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%.

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).