Thrivent Financial for Lutherans Boosts Holdings in Medtronic PLC $MDT

Thrivent Financial for Lutherans boosted its position in shares of Medtronic PLC (NYSE:MDT) by 6.2% in the fourth quarter, HoldingsChannel reports. The fund owned 664,425 shares of the medical technology company’s stock after purchasing an additional 38,671 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Medtronic were worth $63,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new stake in Medtronic during the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in Medtronic during the fourth quarter valued at approximately $29,000. GoalVest Advisory LLC purchased a new stake in Medtronic during the fourth quarter valued at approximately $29,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Medtronic during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $95.00 target price on shares of Medtronic in a research report on Thursday, April 23rd. Argus cut their price target on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Daiwa Securities Group decreased their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Truist Financial decreased their price target on shares of Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.80.

Insider Buying and Selling at Medtronic

In other 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 value of $5,132,120.04. Following the sale, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Medtronic Trading Down 1.1%

NYSE MDT opened at $76.12 on Friday. The company has a fifty day simple moving average of $84.76 and a two-hundred day simple moving average of $93.64. The stock has a market cap of $97.73 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.83 and a beta of 0.62. Medtronic PLC has a 12-month low of $74.40 and a 12-month high of $106.33. 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 posted its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts forecast that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.7%. Medtronic’s dividend payout ratio is presently 79.11%.

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).