Northwest & Ethical Investments L.P. Has $3.04 Million Stock Holdings in Medtronic PLC $MDT

Key Points

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Northwest & Ethical Investments L.P. grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 48.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,792 shares of the medical technology company's stock after buying an additional 11,070 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Medtronic were worth $3,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commerce Bank boosted its holdings in Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock worth $13,118,000 after buying an additional 2,429 shares during the last quarter. Brighton Jones LLC boosted its holdings in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares during the last quarter. Oxford Asset Management LLP boosted its holdings in Medtronic by 70.1% during the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after buying an additional 3,068 shares during the last quarter. New Vernon Investment Management LLC lifted its holdings in shares of Medtronic by 304.9% during the 4th quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after purchasing an additional 22,300 shares in the last quarter. Finally, Insight Inv LLC lifted its holdings in shares of Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after purchasing an additional 12,550 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock traded up $1.5210 during trading on Friday, reaching $92.6210. 4,870,626 shares of the company's stock were exchanged, compared to its average volume of 7,618,189. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $118.72 billion, a PE ratio of 25.52, a PEG ratio of 2.31 and a beta of 0.80. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The firm's fifty day moving average price is $89.73 and its 200-day moving average price is $88.03.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MDT shares. Truist Financial lifted their price objective on Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a report on Thursday. Citigroup lifted their price objective on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a report on Thursday. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price on the stock. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $101.15.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.