National Bank of Canada FI Reduces Stock Position in Medtronic PLC $MDT

National Bank of Canada FI trimmed its holdings in Medtronic PLC (NYSE:MDT) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,220,745 shares of the medical technology company’s stock after selling 82,931 shares during the period. National Bank of Canada FI owned approximately 0.10% of Medtronic worth $106,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Medtronic in the second quarter valued at $1,432,698,000. Ameriprise Financial Inc. boosted its stake in Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Medtronic by 42.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after purchasing an additional 3,017,849 shares during the period. Vanguard Group Inc. grew its holdings 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 buying an additional 1,895,165 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of Medtronic by 100.8% during the first quarter. Alyeska Investment Group L.P. now owns 2,873,623 shares of the medical technology company’s stock valued at $258,224,000 after buying an additional 1,442,768 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDT. Sanford C. Bernstein set a $111.00 price objective on shares of Medtronic in a research report on Wednesday, November 19th. Daiwa Capital Markets raised their price target on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Barclays boosted their price target on shares of Medtronic from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Citigroup increased their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, UBS Group lifted their price objective on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.44.

Medtronic Stock Up 0.1%

MDT opened at $99.86 on Monday. The stock has a market cap of $128.02 billion, a PE ratio of 26.92, a P/E/G ratio of 2.63 and a beta of 0.71. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $106.33. The business’s fifty day simple moving average is $97.27 and its 200 day simple moving average is $92.96.

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, 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 firm had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be paid a $0.71 dividend. 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 is currently 76.55%.

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.