Pacer Advisors Inc. Trims Stake in Medtronic PLC $MDT

Pacer Advisors Inc. lessened its holdings in Medtronic PLC (NYSE:MDT) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 590,193 shares of the medical technology company’s stock after selling 6,285 shares during the period. Pacer Advisors Inc.’s holdings in Medtronic were worth $56,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position 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 buying an additional 1,895,165 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Medtronic by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after acquiring an additional 310,684 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after acquiring an additional 595,549 shares during the last quarter. Invesco Ltd. boosted its position in shares of Medtronic by 3.9% during the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after purchasing an additional 666,557 shares during the period. Finally, Norges Bank purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $1,432,698,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

MDT stock opened at $96.52 on Friday. The business’s 50-day moving average is $97.54 and its two-hundred day moving average is $93.72. 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 firm has a market capitalization of $123.74 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.56 and a beta of 0.71. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $8.96 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is currently 76.55%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price target on Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Cowen reissued a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. Stifel Nicolaus lifted their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Finally, Sanford C. Bernstein set a $111.00 price target on shares of Medtronic in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.94.

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).