Medtronic PLC $MDT Position Boosted by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in Medtronic PLC (NYSE:MDT) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,607,491 shares of the medical technology company’s stock after purchasing an additional 17,328 shares during the period. Van ECK Associates Corp owned about 0.20% of Medtronic worth $248,337,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Medtronic during the second quarter valued at approximately $1,432,698,000. Barclays PLC increased its stake in Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after buying an additional 3,492,192 shares during the period. Schroder Investment Management Group lifted its position in Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after buying an additional 3,307,211 shares in the last quarter. Guinness Asset Management LTD acquired a new stake in shares of Medtronic during the 3rd quarter valued at $275,556,000. Finally, Vanguard Group Inc. boosted its stake in shares of Medtronic by 1.5% during the 2nd 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. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MDT. Truist Financial dropped their price target on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. Barclays restated an “overweight” rating and issued a $118.00 target price on shares of Medtronic in a research note on Wednesday, February 18th. UBS Group reaffirmed a “neutral” rating and set a $104.00 price target on shares of Medtronic in a research note on Wednesday, February 4th. Wells Fargo & Company initiated coverage on Medtronic in a report on Friday, January 30th. They set an “overweight” rating and a $114.00 price target for the company. Finally, The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. One equities 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.74.

Medtronic Stock Performance

MDT opened at $91.26 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company has a market cap of $117.17 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. The stock has a 50-day moving average of $98.59 and a 200-day moving average of $97.02. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.89 billion. During the same period last year, the business earned $1.38 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 27th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Company 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).