Balefire LLC Purchases 8,441 Shares of Medtronic PLC $MDT

Balefire LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 73.3% in the third quarter, HoldingsChannel reports. The fund owned 19,958 shares of the medical technology company’s stock after purchasing an additional 8,441 shares during the quarter. Balefire LLC’s holdings in Medtronic were worth $1,901,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Norges Bank purchased a new stake in shares of Medtronic during the 2nd quarter valued at $1,432,698,000. Ameriprise Financial Inc. increased its position in Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after buying an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after buying an additional 3,017,849 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after acquiring an additional 1,895,165 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in Medtronic by 100.8% in the first quarter. Alyeska Investment Group L.P. now owns 2,873,623 shares of the medical technology company’s stock worth $258,224,000 after acquiring an additional 1,442,768 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on shares of Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Leerink Partners set a $120.00 price target on shares of Medtronic and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Citigroup lifted their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, Sanford C. Bernstein set a $111.00 target price on Medtronic in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.11.

Medtronic Price Performance

NYSE:MDT opened at $98.36 on Thursday. The firm’s fifty day moving average is $97.27 and its two-hundred day moving average is $93.21. The firm has a market cap of $126.09 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 2.57 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 PLC has a one year low of $79.29 and a one year high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio (DPR) 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.