Ritholtz Wealth Management Boosts Stock Position in Medtronic PLC $MDT

Ritholtz Wealth Management boosted its position in Medtronic PLC (NYSE:MDT) by 12.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,049 shares of the medical technology company’s stock after purchasing an additional 7,933 shares during the quarter. Ritholtz Wealth Management’s holdings in Medtronic were worth $7,052,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Corundum Trust Company INC purchased a new position in Medtronic in the third quarter worth $27,000. Delos Wealth Advisors LLC purchased a new position in Medtronic in the 2nd quarter worth $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Medtronic in the third quarter worth about $33,000. Tripletail Wealth Management LLC acquired a new stake in shares of Medtronic during the third quarter worth about $34,000. Finally, Clean Yield Group lifted its stake in Medtronic by 265.7% during the 3rd quarter. Clean Yield Group now owns 384 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 279 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Sanford C. Bernstein lifted their price target on Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Truist Financial lowered their price objective on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Finally, Citigroup raised their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Trading Up 0.1%

Shares of MDT opened at $98.88 on Friday. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33. The stock has a market cap of $126.77 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.60 and a beta of 0.71. The firm’s fifty day moving average is $98.90 and its two-hundred day moving average is $94.77. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last announced 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. The firm had revenue of $8.96 billion for 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 revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.55%.

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).