Medtronic PLC $MDT is Beutel Goodman & Co Ltd.’s 9th Largest Position

Beutel Goodman & Co Ltd. raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,907,266 shares of the medical technology company’s stock after purchasing an additional 115,209 shares during the period. Medtronic accounts for approximately 2.4% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 9th biggest holding. Beutel Goodman & Co Ltd.’s holdings in Medtronic were worth $427,766,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. 1248 Management LLC purchased a new position in Medtronic during the first quarter valued at approximately $26,000. Twin Tree Management LP purchased a new stake in Medtronic in the 1st quarter worth approximately $29,000. Activest Wealth Management boosted its stake in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. GFG Capital LLC acquired a new stake in shares of Medtronic during the 2nd quarter valued at $36,000. Finally, True Wealth Design LLC grew its holdings in shares of Medtronic by 49.8% during the 2nd quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $101.93 on Friday. The stock has a 50-day simple moving average of $96.65 and a 200 day simple moving average of $92.08. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $106.33. The stock has a market capitalization of $130.68 billion, a PE ratio of 27.47, a P/E/G ratio of 2.69 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42.

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, beating analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current 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 dividend of $0.71 per share. The ex-dividend date is Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. Medtronic’s payout ratio is presently 76.55%.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. Citigroup increased their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. upped their target price on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Leerink Partners set a $120.00 price target on Medtronic and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Cowen reissued a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Finally, Royal Bank Of Canada increased their price objective on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.44.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.