New York Life Investment Management LLC Has $16.58 Million Stock Holdings in Medtronic PLC $MDT

New York Life Investment Management LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 174,127 shares of the medical technology company’s stock after selling 4,927 shares during the quarter. New York Life Investment Management LLC’s holdings in Medtronic were worth $16,584,000 as of its most recent filing with the SEC.

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

Medtronic Stock Performance

Shares of MDT opened at $101.69 on Tuesday. The company has a market cap of $130.37 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.71. The firm has a 50-day moving average of $99.37 and a 200-day moving average of $96.22. Medtronic PLC has a one year low of $79.55 and a one 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 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 business had revenue of $8.96 billion during 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%. Medtronic’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent research reports. Morgan Stanley upped their price target on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. TD Cowen reiterated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Citigroup initiated coverage on shares of Medtronic in a research report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price target on the stock. Finally, Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. Sixteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.21.

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).