Medtronic PLC $MDT Position Lessened by Simplicity Wealth LLC

Simplicity Wealth LLC reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 44.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,598 shares of the medical technology company’s stock after selling 17,499 shares during the quarter. Simplicity Wealth LLC’s holdings in Medtronic were worth $2,057,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MDT. Norges Bank bought a new position in Medtronic in the 2nd quarter worth approximately $1,432,698,000. Vanguard Group Inc. grew its stake in shares of Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Medtronic by 332.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,494,782 shares of the medical technology company’s stock worth $130,300,000 after purchasing an additional 1,148,803 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of Medtronic by 8,779.8% during the second quarter. Laurel Wealth Advisors LLC now owns 1,069,664 shares of the medical technology company’s stock valued at $93,243,000 after purchasing an additional 1,057,618 shares during the period. Finally, Altrinsic Global Advisors LLC raised its stake in shares of Medtronic by 47.7% during the second quarter. Altrinsic Global Advisors LLC now owns 2,688,334 shares of the medical technology company’s stock valued at $234,342,000 after purchasing an additional 868,256 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a report on Wednesday, November 19th. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Fourteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Trading Up 1.2%

Medtronic stock opened at $101.45 on Friday. The firm has a market cap of $130.06 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 2.64 and a beta of 0.71. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The firm’s 50 day moving average price is $99.34 and its two-hundred day moving average price is $95.14. 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 released its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research 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 was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. 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).