Federated Hermes Inc. Sells 84,538 Shares of Medtronic PLC $MDT

Federated Hermes Inc. cut its stake in Medtronic PLC (NYSE:MDT) by 23.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 277,394 shares of the medical technology company’s stock after selling 84,538 shares during the period. Federated Hermes Inc.’s holdings in Medtronic were worth $26,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% during the fourth 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 in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after buying an additional 381 shares in the last quarter. PFG Investments LLC grew its position in shares of Medtronic by 4.4% in the 2nd quarter. PFG Investments LLC now owns 8,575 shares of the medical technology company’s stock worth $747,000 after buying an additional 360 shares during the period. SOA Wealth Advisors LLC. increased its stake in shares of Medtronic by 282.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 777 shares of the medical technology company’s stock worth $68,000 after acquiring an additional 574 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Medtronic by 17.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 32,372 shares of the medical technology company’s stock valued at $2,822,000 after acquiring an additional 4,886 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $102.96 on Friday. The company has a market cap of $131.99 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 2.66 and a beta of 0.71. The business’s fifty day simple moving average is $99.60 and its two-hundred day simple moving average is $95.64. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were paid a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. Medtronic’s payout ratio is currently 76.55%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MDT. Stifel Nicolaus upped their price objective on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Morgan Stanley lifted their price objective on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada boosted their target price on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Finally, Daiwa Capital Markets raised their price target on Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.28.

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).