Medtronic PLC $MDT Position Lessened by Rhumbline Advisers

Rhumbline Advisers lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,342,358 shares of the medical technology company’s stock after selling 19,934 shares during the period. Rhumbline Advisers’ holdings in Medtronic were worth $223,086,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Riverbend Wealth Management LLC grew its holdings in shares of 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 acquiring an additional 107 shares during the last quarter. Wynn Capital LLC boosted its position in shares of Medtronic by 2.4% in the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after purchasing an additional 110 shares during the period. Meridian Investment Counsel Inc. boosted its position in shares of Medtronic by 0.4% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after purchasing an additional 110 shares during the period. Saxony Capital Management LLC increased its stake in Medtronic by 3.8% in the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. raised its holdings in Medtronic by 3.2% during the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after buying an additional 113 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Medtronic stock opened at $101.37 on Wednesday. The business has a 50-day moving average of $99.36 and a 200-day moving average of $96.28. 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 capitalization of $129.96 billion, a P/E ratio of 27.32, a PEG ratio of 2.68 and a beta of 0.71. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping 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%. The firm’s quarterly revenue 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. On average, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were issued a $0.71 dividend. 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 dividend payout ratio is presently 76.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Daiwa Securities Group increased their price objective on Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. TD Cowen reiterated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Royal Bank Of Canada raised their price target on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. JPMorgan Chase & Co. boosted their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Finally, The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Sixteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.21.

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).