KLP Kapitalforvaltning AS Has $44.97 Million Stock Holdings in Medtronic PLC $MDT

KLP Kapitalforvaltning AS decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 468,687 shares of the medical technology company’s stock after selling 37,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in Medtronic were worth $44,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Medtronic in the second quarter valued at about $1,432,698,000. Vanguard Group Inc. raised its stake 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 period. Arrowstreet Capital Limited Partnership lifted its holdings in Medtronic by 332.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,494,782 shares of the medical technology company’s stock worth $130,300,000 after acquiring an additional 1,148,803 shares in the last quarter. Perkins Coie Trust Co lifted its holdings in Medtronic by 2,952.2% during the second quarter. Perkins Coie Trust Co now owns 1,155,425 shares of the medical technology company’s stock worth $100,718,000 after acquiring an additional 1,117,570 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in Medtronic by 8,779.8% in the second quarter. Laurel Wealth Advisors LLC now owns 1,069,664 shares of the medical technology company’s stock valued at $93,243,000 after acquiring an additional 1,057,618 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Up 3.0%

Medtronic stock opened at $100.27 on Wednesday. The company has a market cap of $128.54 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 2.57 and a beta of 0.71. The firm has a 50-day moving average of $97.85 and a 200-day moving average of $94.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. Medtronic’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities 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, January 16th. Stockholders of record on Friday, December 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Finally, Cowen reissued a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.94.

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).