Allworth Financial LP boosted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 59.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,611 shares of the medical technology company's stock after acquiring an additional 32,291 shares during the quarter. Allworth Financial LP's holdings in Medtronic were worth $8,320,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company's stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares in the last quarter. State Street Corp raised its holdings in shares of Medtronic by 1.0% during the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company's stock worth $5,800,550,000 after acquiring an additional 625,992 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Medtronic by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company's stock worth $2,044,637,000 after acquiring an additional 192,410 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company's stock valued at $2,008,278,000 after purchasing an additional 98,220 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in Medtronic by 3.0% in the third quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company's stock valued at $1,067,055,000 after purchasing an additional 327,899 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
NYSE MDT opened at $76.12 on Friday. The stock has a 50-day simple moving average of $84.76 and a 200 day simple moving average of $93.64. Medtronic PLC has a twelve month low of $74.40 and a twelve month high of $106.33. The stock has a market capitalization of $97.73 billion, a PE ratio of 21.20, a P/E/G ratio of 1.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.
Medtronic (NYSE:MDT - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.57 EPS for the current year.
Medtronic Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, March 27th. Medtronic's dividend payout ratio (DPR) is currently 79.11%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on MDT. Citigroup dropped their target price on Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Daiwa Securities Group lowered their price target on Medtronic from $117.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Wells Fargo & Company initiated coverage on Medtronic in a report on Friday, January 30th. They issued an "overweight" rating and a $114.00 price objective on the stock. Piper Sandler cut their price objective on shares of Medtronic from $105.00 to $91.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 1st. Finally, CICC Research began coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an "outperform" rating for the company. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.80.
Check Out Our Latest Analysis on MDT
Insider Transactions at Medtronic
In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.
About Medtronic
(
Free Report)
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).
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