NewEdge Wealth LLC Purchases 13,102 Shares of Medtronic PLC $MDT

NewEdge Wealth LLC raised its position in Medtronic PLC (NYSE:MDT) by 58.3% in the 4th quarter, Holdings Channel reports. The firm owned 35,559 shares of the medical technology company’s stock after buying an additional 13,102 shares during the period. NewEdge Wealth LLC’s holdings in Medtronic were worth $3,416,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MDT. Vanguard Group Inc. increased its position in shares of Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. State Street Corp increased its position in shares of Medtronic by 1.0% during the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after acquiring an additional 625,992 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Medtronic by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after acquiring an additional 192,410 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after acquiring an additional 98,220 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Medtronic by 3.0% during the third quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock worth $1,067,055,000 after acquiring an additional 327,899 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 32,768 shares in the company, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. Leerink Partners reissued an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. Evercore set a $106.00 price objective on shares of Medtronic and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Citigroup lowered their price objective on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.80.

Medtronic Stock Performance

Shares of MDT opened at $74.56 on Tuesday. Medtronic PLC has a 12 month low of $74.40 and a 12 month high of $106.33. The firm has a fifty day simple moving average of $86.40 and a 200 day simple moving average of $94.14. The stock has a market capitalization of $95.73 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.81 and a beta of 0.62. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS 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 business 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 posted $1.38 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.57 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.8%. Medtronic’s dividend payout ratio is presently 79.11%.

Medtronic 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).