Exchange Traded Concepts LLC Has $9.09 Million Holdings in Medtronic PLC $MDT

Exchange Traded Concepts LLC lessened its stake in Medtronic PLC (NYSE:MDT) by 54.4% in the third quarter, HoldingsChannel reports. The firm owned 95,431 shares of the medical technology company’s stock after selling 113,677 shares during the period. Exchange Traded Concepts LLC’s holdings in Medtronic were worth $9,089,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Medtronic during the first quarter valued at approximately $286,000. Northwestern Mutual Wealth Management Co. grew its holdings in Medtronic by 7.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 160,311 shares of the medical technology company’s stock valued at $14,405,000 after purchasing an additional 10,706 shares during the period. Ceredex Value Advisors LLC increased its stake in Medtronic by 31.8% in the first quarter. Ceredex Value Advisors LLC now owns 470,609 shares of the medical technology company’s stock valued at $42,289,000 after purchasing an additional 113,595 shares in the last quarter. Finally, Quadcap Wealth Management LLC raised its holdings in Medtronic by 6.1% in the first quarter. Quadcap Wealth Management LLC now owns 20,035 shares of the medical technology company’s stock worth $1,800,000 after purchasing an additional 1,160 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the subject of several research analyst reports. UBS Group boosted their price target on shares of Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Wells Fargo & Company boosted their target price on Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Sanford C. Bernstein set a $111.00 price target on Medtronic in a report on Wednesday, November 19th. JPMorgan Chase & Co. lifted their price objective on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, Barclays boosted their price objective on Medtronic from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.94.

Medtronic Trading Down 0.3%

NYSE MDT opened at $97.44 on Wednesday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The stock’s 50 day moving average price is $97.44 and its two-hundred day moving average price is $93.61. The stock has a market capitalization of $124.92 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 2.57 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given 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 2.9%. Medtronic’s payout ratio is 76.55%.

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).