Federated Hermes Inc. Lowers Stock Holdings in Medtronic PLC $MDT

Federated Hermes Inc. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 23.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 277,394 shares of the medical technology company’s stock after selling 84,538 shares during the period. Federated Hermes Inc.’s holdings in Medtronic were worth $26,419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MDT. Riverbend Wealth Management LLC grew its position in Medtronic by 3.2% during the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after acquiring an additional 107 shares during the last quarter. Wynn Capital LLC lifted its holdings in shares of Medtronic by 2.4% in the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after acquiring an additional 110 shares during the last quarter. Meridian Investment Counsel Inc. boosted its stake in shares of Medtronic by 0.4% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after purchasing an additional 110 shares in the last quarter. Saxony Capital Management LLC boosted its stake in shares of Medtronic by 3.8% in the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock valued at $290,000 after purchasing an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in shares of Medtronic by 3.2% during the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after purchasing an additional 113 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on MDT shares. The Goldman Sachs Group set a $111.00 price target on shares of Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Citigroup increased their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $110.00 price target on shares of Medtronic in a research note on Wednesday, November 19th. Finally, CICC Research began coverage on Medtronic in a research report on Friday. They issued an “outperform” rating for the company. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Stock Up 1.9%

Shares of NYSE:MDT opened at $102.96 on Friday. 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. The stock’s 50-day moving average is $99.60 and its 200 day moving average is $95.64. The company has a market cap of $131.99 billion, a PE ratio of 27.75, a P/E/G ratio of 2.66 and a beta of 0.71.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the company earned $1.26 EPS. The business’s quarterly 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. Sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

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).