Simplicity Wealth LLC Has $2.06 Million Stake in Medtronic PLC $MDT

Simplicity Wealth LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 44.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 21,598 shares of the medical technology company’s stock after selling 17,499 shares during the period. Simplicity Wealth LLC’s holdings in Medtronic were worth $2,057,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Riverbend Wealth Management LLC grew its holdings 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 valued at $332,000 after purchasing an additional 107 shares during the last quarter. Wynn Capital LLC boosted its holdings in shares of 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 buying an additional 110 shares during the period. Meridian Investment Counsel Inc. grew 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 buying an additional 110 shares during the last quarter. Saxony Capital Management LLC raised 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 worth $290,000 after acquiring an additional 112 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in Medtronic by 3.2% during the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.2%

Shares of MDT opened at $101.45 on Friday. The stock’s 50-day moving average price is $99.34 and its 200 day moving average price is $95.14. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $130.06 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 2.64 and a beta of 0.71. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The company 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 company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is 76.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDT. UBS Group raised their price target on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Wells Fargo & Company increased their target price on Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Morgan Stanley raised their target price on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.28.

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).