Assetmark Inc. Increases Position in Medtronic PLC $MDT

Key Points

• Assetmark Inc. increased its stake in Medtronic by 18.9% in Q4, buying an additional 93,338 shares to hold 586,551 shares worth about $56.34 million.
• Medtronic beat quarterly expectations with EPS $1.36 (vs. $1.34 est.) and revenue of $9.02 billion (vs. $8.89 billion), raised FY2026 EPS guidance to 5.620–5.660, while analysts model about 5.46 EPS for the year.
• The company announced a quarterly dividend of $0.71 (annualized $2.84, yield ~3.2%) with an ex-dividend date of March 27, and the stock trades with a market cap near $113.1 billion and a P/E of ~24.5.

Assetmark Inc. boosted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 586,551 shares of the medical technology company's stock after purchasing an additional 93,338 shares during the quarter. Assetmark Inc.'s holdings in Medtronic were worth $56,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Artisan Partners Limited Partnership lifted its stake in shares of Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company's stock worth $117,579,000 after buying an additional 31,314 shares in the last quarter. SageView Advisory Group LLC lifted its stake in shares of Medtronic by 164.8% in the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company's stock worth $2,305,000 after buying an additional 15,062 shares in the last quarter. CSM Advisors LLC lifted its stake in shares of Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company's stock worth $27,169,000 after buying an additional 33,167 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of 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 buying an additional 54,898 shares in the last quarter. Finally, Applied Finance Capital Management LLC bought a new position in shares of Medtronic in the third quarter worth approximately $1,308,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.1%

Shares of MDT stock opened at $88.11 on Wednesday. Medtronic PLC has a 12-month low of $79.93 and a 12-month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average is $92.48 and its 200 day moving average is $95.89. The stock has a market capitalization of $113.12 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.28 and a beta of 0.75.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same quarter last year, the company posted $1.38 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be issued a $0.71 dividend. The ex-dividend date is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.2%. Medtronic's dividend payout ratio (DPR) is currently 79.11%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MDT shares. CICC Research started coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an "outperform" rating on the stock. Mizuho dropped their target price on shares of Medtronic from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Monday. William Blair upgraded shares of Medtronic from a "market perform" rating to an "outperform" rating in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Medtronic in a research note on Monday, December 29th. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $110.00.

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).

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