Medtronic PLC $MDT Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its position in Medtronic PLC (NYSE:MDT) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,204,661 shares of the medical technology company’s stock after selling 1,442,488 shares during the quarter. Invesco Ltd.’s holdings in Medtronic were worth $1,543,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Vanguard Group Inc. raised 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 buying an additional 1,895,165 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Medtronic by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock valued at $2,044,637,000 after acquiring an additional 192,410 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Medtronic by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after acquiring an additional 98,220 shares during the period. Norges Bank acquired a new stake in shares of Medtronic in the second quarter worth $1,432,698,000. Finally, Raymond James Financial Inc. raised its holdings in shares of Medtronic by 0.3% during the second quarter. Raymond James Financial Inc. now owns 10,875,966 shares of the medical technology company’s stock worth $948,058,000 after purchasing an additional 37,264 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Citigroup assumed coverage on Medtronic in a research note on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price objective for the company. Sanford C. Bernstein boosted their price objective on Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Medtronic in a research note on Tuesday. Finally, Morgan Stanley raised their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.74.

Medtronic Trading Down 1.7%

Shares of Medtronic stock opened at $87.50 on Friday. The firm has a 50-day simple moving average of $98.14 and a two-hundred day simple moving average of $96.87. The company has a market cap of $112.34 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same period last year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.2%. Medtronic’s dividend payout ratio is currently 79.11%.

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).