Perpetual Ltd Sells 97,299 Shares of Medtronic PLC $MDT

Perpetual Ltd cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 88.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,221 shares of the medical technology company’s stock after selling 97,299 shares during the period. Perpetual Ltd’s holdings in Medtronic were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MDT. Red Door Wealth Management LLC lifted its stake in shares of Medtronic by 5.8% in the 4th quarter. Red Door Wealth Management LLC now owns 4,357 shares of the medical technology company’s stock valued at $419,000 after purchasing an additional 240 shares during the period. Trust Co. of Toledo NA OH grew its stake in shares of Medtronic by 53.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 24,750 shares of the medical technology company’s stock worth $2,377,000 after purchasing an additional 8,621 shares during the period. Global Trust Asset Management LLC grew its stake in shares of Medtronic by 336.4% during the fourth quarter. Global Trust Asset Management LLC now owns 15,111 shares of the medical technology company’s stock worth $1,452,000 after purchasing an additional 11,648 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Medtronic by 400.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,573 shares of the medical technology company’s stock valued at $920,000 after purchasing an additional 7,661 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in Medtronic in the fourth quarter valued at about $3,704,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Daiwa Securities Group reduced their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. CICC Research started coverage on shares of Medtronic in a research report on Friday, January 30th. They issued an “outperform” rating on the stock. Leerink Partners reissued an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research note on Tuesday, March 10th. Finally, Mizuho raised shares of Medtronic to a “strong-buy” rating in a research note on Wednesday, February 18th. 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. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average price target of $109.85.

Insiders Place Their Bets

In other news, EVP Harry Skip Kiil sold 52,524 shares of the company’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 value of $5,132,120.04. Following the completion of the transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.0%

NYSE:MDT opened at $86.61 on Friday. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The stock has a 50-day moving average price of $94.47 and a two-hundred day moving average price of $96.24. The stock has a market cap of $111.19 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.24 and a beta of 0.75. 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 (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Medtronic’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 expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders 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 dividend on an annualized basis and a yield of 3.3%. Medtronic’s payout ratio is presently 79.11%.

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).