Medtronic PLC $MDT Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its position in Medtronic PLC (NYSE:MDT) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,409,915 shares of the medical technology company’s stock after acquiring an additional 168,439 shares during the period. Truist Financial Corp’s holdings in Medtronic were worth $229,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Medtronic during the 2nd quarter valued at about $1,432,698,000. Vanguard Group Inc. raised 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Medtronic by 332.0% during 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 during the period. Laurel Wealth Advisors LLC boosted its position in Medtronic by 8,779.8% in 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 buying an additional 1,057,618 shares during the last quarter. Finally, Altrinsic Global Advisors LLC boosted its position in Medtronic by 47.7% in 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 buying an additional 868,256 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MDT. Robert W. Baird set a $103.00 price target on shares of Medtronic in a research report on Tuesday, December 16th. Jefferies Financial Group reissued a “hold” rating and set a $110.00 target price on shares of Medtronic in a report on Wednesday, November 19th. Stifel Nicolaus upped their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Fourteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Stock Up 0.0%

Shares of NYSE MDT opened at $100.71 on Wednesday. The firm has a market cap of $129.12 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.65 and a beta of 0.71. The company’s 50-day simple moving average is $99.52 and its 200-day simple moving average is $95.48. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33.

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 analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion for 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 firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. 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 was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio is 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).