Elevation Point Wealth Partners LLC Grows Stock Position in Medtronic PLC $MDT

Elevation Point Wealth Partners LLC boosted its holdings in Medtronic PLC (NYSE:MDT) by 104.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,411 shares of the medical technology company’s stock after acquiring an additional 16,569 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Medtronic were worth $3,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after purchasing an additional 1,895,165 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Medtronic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after purchasing an additional 192,410 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Medtronic by 0.5% during the 3rd 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 purchasing an additional 98,220 shares during the last quarter. Invesco Ltd. raised its position in shares of Medtronic by 3.9% during the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after purchasing an additional 666,557 shares during the last quarter. Finally, Norges Bank purchased a new stake in Medtronic in the 2nd quarter valued at approximately $1,432,698,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction 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 approximately $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Down 0.4%

MDT opened at $87.05 on Friday. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The firm has a 50 day moving average price of $97.96 and a 200 day moving average price of $96.87. 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 company has a market cap of $111.77 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.23 and a beta of 0.71.

Medtronic (NYSE:MDT) last released 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. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. Medtronic’s revenue for the quarter was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 27th. Medtronic’s dividend payout ratio is 79.11%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MDT shares. Leerink Partners reissued an “outperform” rating and set a $119.00 price target on shares of Medtronic in a research report on Tuesday. Wells Fargo & Company started coverage on Medtronic in a research report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective on the stock. UBS Group reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Medtronic in a research note on Wednesday, February 4th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Finally, Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. One equities research 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 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 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).