Medtronic PLC $MDT Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 16.0% during the third quarter, HoldingsChannel.com reports. The fund owned 66,158 shares of the medical technology company’s stock after purchasing an additional 9,123 shares during the quarter. Merit Financial Group LLC’s holdings in Medtronic were worth $6,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Medtronic by 1.5% during the 2nd 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. Geode Capital Management LLC boosted its stake in shares of Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after buying an additional 310,684 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Medtronic by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after buying an additional 595,549 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after buying an additional 666,557 shares during the last quarter. Finally, Norges Bank acquired a new position in Medtronic in the 2nd quarter valued at about $1,432,698,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE:MDT opened at $96.13 on Friday. The firm’s fifty day simple moving average is $97.60 and its 200-day simple moving average is $93.96. 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 $123.24 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71. Medtronic PLC has a fifty-two week low of $79.38 and a fifty-two 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 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The firm had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio is currently 76.55%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MDT shares. Cowen reaffirmed a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Monday. Daiwa Capital Markets lifted their price objective on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Leerink Partners set a $120.00 price objective on shares of Medtronic and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Finally, Morgan Stanley raised their target price on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average target price of $109.94.

About Medtronic

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).