Global Wealth Management Investment Advisory Inc. Raises Position in Medtronic PLC $MDT

Global Wealth Management Investment Advisory Inc. increased its stake in Medtronic PLC (NYSE:MDT) by 26.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 43,862 shares of the medical technology company’s stock after purchasing an additional 9,182 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Medtronic were worth $4,177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Medtronic by 1.5% in 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 acquiring an additional 1,895,165 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares during the period. Bank of New York Mellon Corp grew its holdings in Medtronic by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after purchasing an additional 595,549 shares in the last quarter. Invesco Ltd. grew its holdings in Medtronic by 3.9% during the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after purchasing an additional 666,557 shares in the last quarter. Finally, Norges Bank purchased a new stake in Medtronic during the 2nd quarter worth $1,432,698,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a research report on Wednesday, November 19th. UBS Group increased their price target on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Cowen restated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Finally, Truist Financial dropped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Price Performance

Shares of MDT opened at $96.46 on Wednesday. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The firm has a market cap of $123.67 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 2.56 and a beta of 0.71. The stock has a 50 day moving average of $98.56 and a 200-day moving average of $94.72.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. The firm had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s payout ratio is 76.55%.

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).