Medtronic PLC $MDT Stock Position Decreased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lowered its holdings in Medtronic PLC (NYSE:MDT) by 82.7% during the second quarter, HoldingsChannel.com reports. The fund owned 17,584 shares of the medical technology company’s stock after selling 84,044 shares during the period. Beacon Pointe Advisors LLC’s holdings in Medtronic were worth $1,533,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 1,895,165 shares during the period. Geode Capital Management LLC boosted its position in Medtronic by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares during the period. Bank of New York Mellon Corp grew its stake in Medtronic by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after buying an additional 595,549 shares during the last quarter. Invesco Ltd. grew its stake in Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after buying an additional 1,535,308 shares during the last quarter. Finally, Norges Bank acquired a new stake in Medtronic in the second quarter worth $1,432,698,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

NYSE MDT opened at $101.39 on Friday. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $106.33. The firm has a market capitalization of $129.99 billion, a PE ratio of 27.33, a P/E/G ratio of 2.69 and a beta of 0.71. The company’s 50 day simple moving average is $96.79 and its 200 day simple moving average is $92.18. 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 (NYSE:MDT) last issued its quarterly 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. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MDT. Weiss Ratings reissued a “buy (b)” rating on shares of Medtronic in a report on Tuesday. Cowen reiterated a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Robert W. Baird boosted their target price on shares of Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada upped their target price on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Finally, UBS Group lifted their price target on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.