State of Alaska Department of Revenue Cuts Stock Holdings in Medtronic PLC $MDT

State of Alaska Department of Revenue reduced its position in shares of Medtronic PLC (NYSE:MDT) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,223 shares of the medical technology company’s stock after selling 9,975 shares during the period. State of Alaska Department of Revenue’s holdings in Medtronic were worth $16,063,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MDT. Delos Wealth Advisors LLC purchased a new position in Medtronic during the second quarter worth about $27,000. Corundum Trust Company INC purchased a new position in Medtronic in the third quarter valued at about $27,000. Lodestone Wealth Management LLC purchased a new position in Medtronic in the fourth quarter valued at about $27,000. Valley Wealth Managers Inc. purchased a new position in Medtronic in the third quarter valued at about $29,000. Finally, Board of the Pension Protection Fund purchased a new position in Medtronic in the fourth quarter valued at about $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $87.17 on Monday. Medtronic PLC has a twelve month low of $79.93 and a twelve month high of $106.33. The firm has a market capitalization of $111.91 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.26 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. The firm’s fifty day simple moving average is $93.08 and its 200 day simple moving average is $95.97.

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

Medtronic Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Argus dropped their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Stifel Nicolaus dropped their price objective on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Mizuho raised shares of Medtronic to a “strong-buy” rating in a research note on Wednesday, February 18th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

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).