Resona Asset Management Co. Ltd. Sells 25,090 Shares of Medtronic PLC $MDT

Resona Asset Management Co. Ltd. cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 6.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 355,160 shares of the medical technology company’s stock after selling 25,090 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Medtronic were worth $33,825,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp boosted its position in Medtronic by 5.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 623,170 shares of the medical technology company’s stock valued at $59,351,000 after acquiring an additional 31,434 shares in the last quarter. WBH Advisory Inc. bought a new stake in Medtronic during the third quarter valued at about $204,000. Probity Advisors Inc. boosted its position in Medtronic by 2.7% during the third quarter. Probity Advisors Inc. now owns 14,177 shares of the medical technology company’s stock valued at $1,350,000 after purchasing an additional 373 shares in the last quarter. Flagship Wealth Advisors LLC grew its stake in Medtronic by 12.9% in the third quarter. Flagship Wealth Advisors LLC now owns 1,270 shares of the medical technology company’s stock valued at $121,000 after purchasing an additional 145 shares during the last quarter. Finally, Naples Global Advisors LLC raised its holdings in Medtronic by 0.7% in the third quarter. Naples Global Advisors LLC now owns 58,734 shares of the medical technology company’s stock worth $5,633,000 after purchasing an additional 407 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.4%

NYSE:MDT opened at $100.98 on Friday. The company has a market capitalization of $129.45 billion, a P/E ratio of 27.22, a PEG ratio of 2.66 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33. The firm has a fifty day simple moving average of $99.44 and a 200-day simple moving average of $95.28.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MDT shares. Wells Fargo & Company raised their price target on shares of Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Daiwa Capital Markets increased their target price on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. JPMorgan Chase & Co. lifted their price target on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Stifel Nicolaus increased their price objective on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Finally, Morgan Stanley boosted their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Fourteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.28.

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).