North Dallas Bank & Trust Co. Makes New Investment in Medtronic PLC $MDT

North Dallas Bank & Trust Co. bought a new position in shares of Medtronic PLC (NYSE:MDT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,412 shares of the medical technology company’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after purchasing an additional 1,895,165 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after buying an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after acquiring an additional 595,549 shares during the period. Invesco Ltd. grew its stake in shares of Medtronic by 3.9% in the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after acquiring an additional 666,557 shares in the last quarter. Finally, Norges Bank bought a new position in Medtronic during the second quarter worth about $1,432,698,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Daiwa Capital Markets increased their target price on shares of Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research report on Friday, November 14th. Citigroup raised their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Jefferies Financial Group reiterated a “hold” rating and set a $110.00 target price on shares of Medtronic in a research report on Wednesday, November 19th. Finally, Truist Financial increased their target price on Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $110.44.

Medtronic Trading Up 0.1%

Shares of MDT stock opened at $99.86 on Friday. The stock’s fifty day moving average price is $97.27 and its two-hundred day moving average price is $92.88. The company has a market cap of $128.02 billion, a PE ratio of 26.92, a P/E/G ratio of 2.63 and a beta of 0.71. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.Medtronic’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.55%.

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.