Thrivent Financial for Lutherans Raises Stock Holdings in Medtronic PLC $MDT

Key Points

• Thrivent Financial for Lutherans boosted its Medtronic stake by 6.2% in the fourth quarter, adding 38,671 shares to bring its total to 664,425 shares worth about $63.8 million.
• Medtronic reported better-than-expected quarterly results, with EPS of $1.36 and revenue of $9.02 billion, both topping analyst estimates; revenue also rose 5.8% year over year.
• The company continues to draw mixed but generally positive analyst sentiment, with 15 Buy ratings and 11 Hold ratings, though some firms have trimmed price targets and Weiss Ratings downgraded the stock to Hold.

Thrivent Financial for Lutherans increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 664,425 shares of the medical technology company's stock after acquiring an additional 38,671 shares during the period. Thrivent Financial for Lutherans owned about 0.05% of Medtronic worth $63,831,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MDT. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC grew its holdings in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Medtronic in the 4th quarter worth about $29,000. GoalVest Advisory LLC purchased a new position in Medtronic in the 4th quarter worth about $29,000. Finally, Valley Wealth Managers Inc. purchased a new position in Medtronic in the 3rd quarter worth about $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Medtronic stock opened at $76.12 on Friday. The stock has a market cap of $97.73 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a 1 year low of $74.40 and a 1 year high of $106.33. The firm has a 50-day moving average of $84.76 and a two-hundred day moving average of $93.64.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share 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 firm had revenue of $9.02 billion during the quarter, compared to analysts' expectations of $8.89 billion. During the same quarter in the prior year, the company earned $1.38 EPS. The company'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. On average, research analysts forecast that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.7%. Medtronic's dividend payout ratio (DPR) is currently 79.11%.

Insider Activity

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on MDT. Daiwa Securities Group lowered their price objective on shares of Medtronic from $117.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Mizuho lowered their price objective on shares of Medtronic from $125.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. CICC Research began coverage on shares of Medtronic in a research report on Friday, January 30th. They issued an "outperform" rating for the company. Weiss Ratings cut shares of Medtronic from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company began coverage on shares of Medtronic in a research report on Friday, January 30th. They issued an "overweight" rating and a $114.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $107.80.

About Medtronic

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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