SVB Wealth LLC Has $4.74 Million Holdings in Medtronic PLC $MDT

SVB Wealth LLC decreased its stake in shares of Medtronic PLC (NYSE:MDT) by 29.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,411 shares of the medical technology company’s stock after selling 22,762 shares during the period. SVB Wealth LLC’s holdings in Medtronic were worth $4,743,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MDT. Brighton Jones LLC raised its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. Founders Financial Alliance LLC bought a new stake in Medtronic in the 1st quarter valued at approximately $212,000. Zions Bancorporation National Association UT acquired a new position in Medtronic during the first quarter worth $135,000. Frank Rimerman Advisors LLC grew its position in Medtronic by 83.4% in the first quarter. Frank Rimerman Advisors LLC now owns 7,294 shares of the medical technology company’s stock valued at $655,000 after purchasing an additional 3,316 shares in the last quarter. Finally, Strengthening Families & Communities LLC increased its stake in Medtronic by 4.7% in the 1st quarter. Strengthening Families & Communities LLC now owns 24,206 shares of the medical technology company’s stock valued at $2,143,000 after buying an additional 1,088 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research report on Friday, November 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Medtronic in a report on Tuesday, December 2nd. Daiwa Capital Markets boosted their target price on shares of Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Sanford C. Bernstein set a $111.00 target price on shares of Medtronic in a report on Wednesday, November 19th. Finally, Barclays upped their price objective on Medtronic from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.44.

Medtronic Trading Down 0.6%

Shares of NYSE:MDT opened at $101.39 on Monday. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $106.33. The business has a 50 day moving average of $96.79 and a 200-day moving average of $92.28. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The stock has a market cap of $129.99 billion, a PE ratio of 27.33, a P/E/G ratio of 2.67 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The business 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 quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.