Medtronic PLC $MDT Stock Holdings Lessened by Vest Financial LLC

Vest Financial LLC cut its holdings in Medtronic PLC (NYSE:MDT) by 5.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 623,294 shares of the medical technology company’s stock after selling 38,191 shares during the period. Vest Financial LLC’s holdings in Medtronic were worth $59,363,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MDT. Corundum Trust Company INC bought a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Delos Wealth Advisors LLC acquired a new position in Medtronic during the 2nd quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new position in Medtronic during the 3rd quarter worth $33,000. Tripletail Wealth Management LLC acquired a new stake in Medtronic in the third quarter worth $34,000. Finally, Clean Yield Group lifted its stake in Medtronic by 265.7% in the third quarter. Clean Yield Group now owns 384 shares of the medical technology company’s stock valued at $37,000 after buying an additional 279 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Stifel Nicolaus boosted their target price on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Truist Financial dropped their price target on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Price Performance

Shares of NYSE MDT opened at $98.64 on Wednesday. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $99.14 and a two-hundred day moving average of $95.06. The company has a market capitalization of $126.46 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.55 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, 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 was paid on Friday, January 16th. Investors of record on Friday, December 26th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, December 26th. Medtronic’s payout ratio is presently 76.55%.

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).