Victory Capital Management Inc. Sells 354,230 Shares of Medtronic PLC $MDT

Victory Capital Management Inc. cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 17.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,629,455 shares of the medical technology company’s stock after selling 354,230 shares during the period. Victory Capital Management Inc. owned 0.13% of Medtronic worth $155,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Medtronic during the 2nd quarter valued at about $1,432,698,000. Guinness Asset Management LTD purchased a new stake in Medtronic in the third quarter worth about $275,556,000. Vanguard Group Inc. boosted 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 valued at $11,062,693,000 after acquiring an additional 1,895,165 shares in the last quarter. Magellan Asset Management Ltd bought a new position in shares of Medtronic in the 3rd quarter worth approximately $126,347,000. Finally, Bessemer Group Inc. lifted its stake in shares of Medtronic by 86.2% in the 3rd quarter. Bessemer Group Inc. now owns 2,538,029 shares of the medical technology company’s stock valued at $241,723,000 after purchasing an additional 1,174,765 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $96.71 on Wednesday. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The company has a market capitalization of $124.16 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.46 and a beta of 0.71. The firm has a 50 day moving average of $98.92 and a 200 day moving average of $96.99. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is currently 79.11%.

Insider Activity

In other news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Morgan Stanley lifted their price target on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Leerink Partners decreased their target price on shares of Medtronic from $120.00 to $119.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Finally, CICC Research started coverage on shares of Medtronic in a report on Friday, January 30th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.74.

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).