Hardman Johnston Global Advisors LLC Raises Stake in Medtronic PLC $MDT

Hardman Johnston Global Advisors LLC raised its position in Medtronic PLC (NYSE:MDT) by 26.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,159 shares of the medical technology company’s stock after purchasing an additional 48,616 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Medtronic were worth $22,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. First Horizon Corp purchased a new position in Medtronic in the third quarter valued at $692,000. MGO One Seven LLC increased its holdings in shares of Medtronic by 374.4% in the 3rd quarter. MGO One Seven LLC now owns 100,206 shares of the medical technology company’s stock valued at $9,544,000 after acquiring an additional 79,085 shares during the last quarter. Nexus Investment Management ULC raised its position in shares of Medtronic by 26.0% during the 3rd quarter. Nexus Investment Management ULC now owns 293,403 shares of the medical technology company’s stock worth $27,944,000 after acquiring an additional 60,614 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in Medtronic by 134.1% during the third quarter. Citizens Financial Group Inc. RI now owns 70,928 shares of the medical technology company’s stock worth $6,755,000 after purchasing an additional 40,625 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Medtronic by 669.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 7,575 shares of the medical technology company’s stock valued at $714,000 after purchasing an additional 6,590 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $97.54 on Monday. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The stock has a market capitalization of $125.04 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.57 and a beta of 0.71. The company has a 50-day simple moving average of $98.31 and a 200-day simple moving average of $94.57. 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 issued its quarterly earnings results 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. The firm had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s payout ratio is presently 76.55%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. Cowen reissued a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Robert W. Baird set a $103.00 price target on shares of Medtronic in a research note on Tuesday, December 16th. Barclays upped their price objective on shares of Medtronic from $111.00 to $116.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank Of Canada boosted their target price on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic Company Profile

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).