Medtronic PLC $MDT is Banque de Luxembourg S.A.’s 7th Largest Position

Banque de Luxembourg S.A. decreased its position in Medtronic PLC (NYSE:MDT) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,444 shares of the medical technology company’s stock after selling 260 shares during the quarter. Medtronic makes up 5.3% of Banque de Luxembourg S.A.’s portfolio, making the stock its 7th biggest position. Banque de Luxembourg S.A.’s holdings in Medtronic were worth $9,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Medtronic by 0.7% during the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock valued at $11,233,780,000 after acquiring an additional 810,854 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after buying an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.4%

Shares of MDT opened at $94.57 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The stock’s 50 day moving average is $91.83 and its two-hundred day moving average is $88.34. The firm has a market cap of $121.30 billion, a P/E ratio of 26.05, a PEG ratio of 2.48 and a beta of 0.77.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $1.23 earnings per share. Medtronic’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Analysts Set New Price Targets

A number of research analysts recently commented on MDT shares. UBS Group boosted their price target on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Citigroup increased their price target on Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Finally, Mizuho raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.27.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William R. Jellison purchased 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

About Medtronic

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.