Meridiem Capital Partners LP Boosts Stake in Medtronic PLC $MDT

Meridiem Capital Partners LP grew its position in shares of Medtronic PLC (NYSE:MDT) by 82.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 325,751 shares of the medical technology company’s stock after acquiring an additional 147,275 shares during the period. Medtronic comprises about 2.0% of Meridiem Capital Partners LP’s holdings, making the stock its 16th largest position. Meridiem Capital Partners LP’s holdings in Medtronic were worth $31,025,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Corundum Trust Company INC acquired a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Valley Wealth Managers Inc. acquired a new position in Medtronic during the third quarter valued at approximately $29,000. Delos Wealth Advisors LLC purchased a new stake in Medtronic during the second quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Medtronic in the third quarter worth $33,000. Finally, Tripletail Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at $34,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.16 during trading on Friday, reaching $87.54. The stock had a trading volume of 454,323 shares, compared to its average volume of 8,438,689. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock has a market cap of $112.39 billion, a PE ratio of 24.36, a P/E/G ratio of 2.28 and a beta of 0.71. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The firm’s 50 day moving average price is $98.14 and its two-hundred day moving average price is $96.87.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research analysts forecast 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. Stockholders of record on Friday, March 27th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, March 27th. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MDT shares. Wells Fargo & Company assumed coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price target for the company. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Morgan Stanley increased their target price on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Medtronic in a research report on Tuesday. Finally, Barclays reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Medtronic in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.74.

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).