Massachusetts Financial Services Co. MA Acquires 98,220 Shares of Medtronic PLC $MDT

Massachusetts Financial Services Co. MA boosted its stake in Medtronic PLC (NYSE:MDT) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 21,086,499 shares of the medical technology company’s stock after acquiring an additional 98,220 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Medtronic were worth $2,008,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverbend Wealth Management LLC grew its holdings in shares of Medtronic by 3.2% in the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after buying an additional 107 shares during the period. Wynn Capital LLC increased its position in shares of Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after acquiring an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. lifted its holdings in shares of Medtronic by 0.4% in the third 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 in the last quarter. Saxony Capital Management LLC lifted its position in shares of Medtronic by 3.8% in the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in shares of Medtronic by 3.2% in the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after acquiring an additional 113 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MDT. Barclays boosted their price target on Medtronic from $111.00 to $116.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Cowen restated a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $110.00 target price on shares of Medtronic in a report on Wednesday, November 19th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Finally, Stifel Nicolaus raised their price objective on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock 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 $96.82 on Friday. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The company has a market cap of $124.12 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.55 and a beta of 0.71. 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 50 day simple moving average of $98.99 and a 200 day simple moving average of $94.88.

Medtronic (NYSE:MDT) last posted 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 firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is presently 76.55%.

Medtronic 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).