Lee Danner & Bass Inc. Reduces Position in Medtronic PLC $MDT

Lee Danner & Bass Inc. lowered its holdings in Medtronic PLC (NYSE:MDT) by 4.7% in the third quarter, HoldingsChannel reports. The firm owned 115,790 shares of the medical technology company’s stock after selling 5,666 shares during the period. Lee Danner & Bass Inc.’s holdings in Medtronic were worth $11,028,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MDT. Vanguard Group Inc. raised its position in shares of 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of Medtronic by 1.1% in 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Medtronic by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after acquiring an additional 98,220 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Medtronic by 3.9% during the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after acquiring an additional 666,557 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Truist Financial cut their price objective on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Royal Bank Of Canada lifted their target price on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Finally, Morgan Stanley raised their price objective on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Trading Down 2.2%

Shares of NYSE MDT opened at $96.82 on Tuesday. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The company has a market cap of $124.12 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 2.55 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $99.08 and its 200 day simple moving average is $94.99.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were given a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

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).