Medtronic PLC $MDT Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,468,260 shares of the medical technology company’s stock after buying an additional 192,410 shares during the quarter. Bank of New York Mellon Corp’s holdings in Medtronic were worth $2,044,637,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ballentine Partners LLC lifted its holdings in shares of Medtronic by 10.3% during the 3rd quarter. Ballentine Partners LLC now owns 15,273 shares of the medical technology company’s stock valued at $1,455,000 after acquiring an additional 1,427 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Medtronic by 4.9% in the third quarter. Valeo Financial Advisors LLC now owns 21,854 shares of the medical technology company’s stock valued at $2,081,000 after purchasing an additional 1,018 shares during the period. Truist Financial Corp lifted its stake in shares of Medtronic by 7.5% during the third quarter. Truist Financial Corp now owns 2,409,915 shares of the medical technology company’s stock worth $229,520,000 after purchasing an additional 168,439 shares in the last quarter. EPG Wealth Management LLC boosted its position in shares of Medtronic by 3.5% in the third quarter. EPG Wealth Management LLC now owns 6,909 shares of the medical technology company’s stock worth $658,000 after buying an additional 231 shares during the period. Finally, Summit Investment Advisory Services LLC acquired a new stake in shares of Medtronic in the third quarter valued at about $303,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $100.71 on Wednesday. The firm has a fifty day moving average of $99.52 and a two-hundred day moving average of $95.48. The firm has a market cap of $129.12 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.65 and a beta of 0.71. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. 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 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s payout ratio is 76.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial decreased their price target on Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Morgan Stanley upped their target price on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. UBS Group boosted their price objective on shares of Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Stifel Nicolaus upped their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Fourteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic 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).