Medtronic PLC (NYSE:MDT) Short Interest Update

Medtronic PLC (NYSE:MDT) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 15,131,648 shares, a decline of 20.3% from the November 30th total of 18,974,699 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 6,098,112 shares, the short-interest ratio is presently 2.5 days. Based on an average daily trading volume, of 6,098,112 shares, the short-interest ratio is presently 2.5 days. Approximately 1.2% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Leerink Partners set a $120.00 price objective on shares of Medtronic and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Royal Bank Of Canada raised their price objective on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Truist Financial dropped their target price on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, UBS Group raised their price target on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.94.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MDT. Riverbend Wealth Management LLC increased its position in Medtronic by 3.2% during the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock worth $332,000 after buying an additional 107 shares in the last quarter. Holistic Financial Partners boosted its stake in shares of Medtronic by 3.0% during the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock valued at $352,000 after acquiring an additional 109 shares during the last quarter. Wynn Capital LLC increased its position in Medtronic by 2.4% during the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after purchasing an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. raised its stake in Medtronic by 0.4% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after purchasing an additional 110 shares during the last quarter. Finally, Saxony Capital Management LLC lifted its holdings in Medtronic by 3.8% in the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock valued at $290,000 after purchasing an additional 112 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Medtronic stock traded down $0.53 during mid-day trading on Wednesday, reaching $96.13. The company had a trading volume of 4,718,874 shares, compared to its average volume of 5,493,663. The stock’s 50-day simple moving average is $97.57 and its 200-day simple moving average is $93.94. Medtronic has a 1 year low of $79.38 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The company has a market capitalization of $123.24 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.55 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts predict that Medtronic will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

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).