Danske Bank A S Takes Position in Medtronic PLC $MDT

Danske Bank A S bought a new position in shares of Medtronic PLC (NYSE:MDT) in the third quarter, HoldingsChannel reports. The institutional investor bought 754,795 shares of the medical technology company’s stock, valued at approximately $71,887,000.

Several other hedge funds have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its stake in shares of Medtronic by 2.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after purchasing an additional 31,314 shares during the period. AXQ Capital LP boosted its position in shares of Medtronic by 25.6% in the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after purchasing an additional 2,013 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Medtronic by 65.8% during the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after purchasing an additional 54,898 shares during the period. Applied Finance Capital Management LLC bought a new stake in Medtronic in the third quarter valued at about $1,308,000. Finally, CSM Advisors LLC increased its holdings in Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MDT. Jefferies Financial Group restated a “hold” rating and set a $110.00 target price on shares of Medtronic in a report on Wednesday, November 19th. Robert W. Baird lowered their price target on Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Mizuho upgraded shares of Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.74.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Up 0.3%

NYSE:MDT opened at $88.50 on Wednesday. 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 current ratio of 2.54 and a quick ratio of 1.87. The stock has a market capitalization of $113.62 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.26 and a beta of 0.71. The business’s 50-day simple moving average is $97.54 and its 200-day simple moving average is $96.85.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion during 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%.Medtronic’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 EPS. 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 fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be issued a dividend of $0.71 per share. 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%.

About Medtronic

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).