Medtronic PLC $MDT Stake Boosted by Skba Capital Management LLC

Skba Capital Management LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 312,762 shares of the medical technology company’s stock after acquiring an additional 11,500 shares during the quarter. Medtronic accounts for 4.1% of Skba Capital Management LLC’s portfolio, making the stock its biggest holding. Skba Capital Management LLC’s holdings in Medtronic were worth $29,787,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Medtronic during the 2nd quarter valued at about $1,432,698,000. Guinness Asset Management LTD bought a new stake in Medtronic during the third quarter valued at approximately $275,556,000. Vanguard Group Inc. grew its position in Medtronic by 1.5% during 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 period. Magellan Asset Management Ltd purchased a new stake in Medtronic during the third quarter valued at approximately $126,347,000. Finally, Bessemer Group Inc. raised its position in Medtronic by 86.2% in the third quarter. Bessemer Group Inc. now owns 2,538,029 shares of the medical technology company’s stock worth $241,723,000 after acquiring an additional 1,174,765 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $96.71 on Wednesday. The stock has a 50-day moving average price of $98.92 and a 200 day moving average price of $96.99. The stock has a market capitalization of $124.16 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.46 and a beta of 0.71. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the company posted $1.38 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank Of Canada upped their price objective on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Morgan Stanley upped their price target on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. William Blair upgraded Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Finally, Robert W. Baird reduced their target price on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.74.

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).