Confluence Investment Management LLC Acquires 10,358 Shares of Medtronic PLC $MDT

Confluence Investment Management LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 215,117 shares of the medical technology company’s stock after purchasing an additional 10,358 shares during the period. Confluence Investment Management LLC’s holdings in Medtronic were worth $20,664,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Delos Wealth Advisors LLC bought a new position in Medtronic in the second quarter worth approximately $27,000. Corundum Trust Company INC bought a new stake in Medtronic during the 3rd quarter valued at $27,000. Valley Wealth Managers Inc. purchased a new position in shares of Medtronic in the 3rd quarter valued at $29,000. GoalVest Advisory LLC bought a new position in shares of Medtronic in the 4th quarter worth $29,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. Sanford C. Bernstein boosted their target price on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Daiwa Securities Group decreased their target price on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Robert W. Baird decreased their price objective on Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Finally, CICC Research started coverage on Medtronic in a research report on Friday, January 30th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.74.

Medtronic Trading Down 0.4%

NYSE:MDT opened at $86.83 on Friday. The company has a market capitalization of $111.48 billion, a P/E ratio of 24.19, a PEG ratio of 2.24 and a beta of 0.71. 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 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 $97.05 and a 200-day simple moving average of $96.71.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, March 27th. Medtronic’s dividend payout ratio is 79.11%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of 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 the SEC website. Corporate insiders own 0.26% of the company’s stock.

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).