Pekin Hardy Strauss Inc. Lowers Stock Holdings in Medtronic PLC $MDT

Pekin Hardy Strauss Inc. cut its stake in shares of Medtronic PLC (NYSE:MDT) by 37.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,990 shares of the medical technology company’s stock after selling 16,404 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Medtronic were worth $2,571,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. AXQ Capital LP lifted its holdings in shares of Medtronic by 25.6% in the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock valued at $862,000 after buying an additional 2,013 shares during the period. UMB Bank n.a. raised its position in Medtronic by 65.8% in the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after acquiring an additional 54,898 shares in the last quarter. Applied Finance Capital Management LLC acquired a new stake in Medtronic in the third quarter valued at $1,308,000. Principal Financial Group Inc. lifted its holdings in Medtronic by 17.2% in the third quarter. Principal Financial Group Inc. now owns 1,656,155 shares of the medical technology company’s stock valued at $157,732,000 after acquiring an additional 242,910 shares during the period. Finally, Willis Investment Counsel boosted its position in shares of Medtronic by 5.0% during the 3rd quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock worth $38,274,000 after purchasing an additional 19,192 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MDT shares. Sanford C. Bernstein increased their price target on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. UBS Group restated a “neutral” rating and set a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 4th. Leerink Partners reduced their target price on Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Truist Financial dropped their price target on Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.05.

Medtronic Trading Down 0.9%

Shares of MDT opened at $97.59 on Friday. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The firm has a market capitalization of $125.10 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.60 and a beta of 0.71. 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 stock’s fifty day simple moving average is $99.10 and its 200 day simple moving average is $96.60.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.88% and a net margin of 13.00%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is 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).