Medtronic PLC $MDT Position Trimmed by Phoenix Financial Ltd.

Phoenix Financial Ltd. decreased its holdings in Medtronic PLC (NYSE:MDT) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,584 shares of the medical technology company’s stock after selling 13,272 shares during the period. Phoenix Financial Ltd.’s holdings in Medtronic were worth $5,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverbend Wealth Management LLC lifted its position in Medtronic by 3.2% in the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock worth $332,000 after buying an additional 107 shares in the last quarter. Wynn Capital LLC grew 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 valued at $442,000 after acquiring an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. increased its stake 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 worth $2,692,000 after acquiring an additional 110 shares during the last quarter. Saxony Capital Management LLC increased its stake 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 acquiring an additional 112 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its holdings in shares of Medtronic by 3.2% during the second 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 in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Stifel Nicolaus boosted their price target on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. UBS Group raised their price objective on shares of Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Truist Financial reduced their target price on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research report on Wednesday, November 19th. Fourteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Trading Down 0.2%

NYSE:MDT opened at $100.72 on Tuesday. The company’s 50 day moving average is $99.53 and its 200-day moving average is $95.40. The company has a quick ratio of 1.80, a current ratio of 2.42 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 market cap of $129.12 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 2.66 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The business 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%. Medtronic’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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