Steward Partners Investment Advisory LLC Raises Stock Holdings in Medtronic PLC $MDT

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Medtronic PLC by 10.1% during the 1st quarter, acquiring an additional 23,120 shares, bringing their total holdings to 251,680 shares valued at approximately $22.6 million.
• Medtronic reported quarterly earnings of $1.62 EPS, exceeding analyst estimates, and achieved a revenue of $8.93 billion, marking a 3.9% year-over-year increase.
• The company recently declared a $0.71 quarterly dividend, resulting in an annualized dividend yield of 3.1%, with a payout ratio of 78.45%.

Steward Partners Investment Advisory LLC raised its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,680 shares of the medical technology company's stock after acquiring an additional 23,120 shares during the period. Steward Partners Investment Advisory LLC's holdings in Medtronic were worth $22,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Brighton Jones LLC raised its holdings in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Marshall Wace LLP increased its position in shares of Medtronic by 280.7% during the 4th quarter. Marshall Wace LLP now owns 408,323 shares of the medical technology company's stock valued at $32,617,000 after purchasing an additional 301,074 shares during the last quarter. Commerce Bank increased its position in shares of Medtronic by 3.9% during the 4th quarter. Commerce Bank now owns 143,555 shares of the medical technology company's stock valued at $11,467,000 after purchasing an additional 5,450 shares during the last quarter. GeoWealth Management LLC increased its position in shares of Medtronic by 34.2% during the 4th quarter. GeoWealth Management LLC now owns 31,744 shares of the medical technology company's stock valued at $2,536,000 after purchasing an additional 8,094 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Medtronic by 1.3% during the 4th quarter. First Trust Advisors LP now owns 954,771 shares of the medical technology company's stock valued at $76,267,000 after purchasing an additional 12,706 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Medtronic stock traded down $2.1020 during mid-day trading on Thursday, reaching $91.1180. 6,372,578 shares of the stock traded hands, compared to its average volume of 7,754,595. The stock has a market capitalization of $116.80 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The business's 50-day moving average is $89.57 and its 200-day moving average is $88.02.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during 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%.Medtronic's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MDT. William Blair upgraded Medtronic to a "hold" rating in a research report on Friday, July 11th. Mizuho raised their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Leerink Partners began coverage on Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Citigroup raised their price target on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.15.

Medtronic Profile

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.