Fisher Asset Management LLC Sells 34,537 Shares of Medtronic PLC $MDT

Fisher Asset Management LLC trimmed its stake in Medtronic PLC (NYSE:MDT) by 12.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 239,529 shares of the medical technology company’s stock after selling 34,537 shares during the period. Fisher Asset Management LLC’s holdings in Medtronic were worth $22,813,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bright Futures Wealth Management LLC. acquired a new position in Medtronic during the third quarter valued at approximately $239,000. Journey Strategic Wealth LLC grew its stake in Medtronic by 17.5% in the 3rd quarter. Journey Strategic Wealth LLC now owns 10,144 shares of the medical technology company’s stock valued at $966,000 after buying an additional 1,509 shares during the last quarter. Davis R M Inc. raised its holdings in Medtronic by 1.7% in the 3rd quarter. Davis R M Inc. now owns 267,590 shares of the medical technology company’s stock worth $25,485,000 after acquiring an additional 4,463 shares during the period. Okabena Investment Services Inc. raised its holdings in Medtronic by 394.4% in the 3rd quarter. Okabena Investment Services Inc. now owns 16,059 shares of the medical technology company’s stock worth $1,529,000 after acquiring an additional 12,811 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its position in Medtronic by 43.5% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 3,297 shares of the medical technology company’s stock worth $314,000 after acquiring an additional 1,000 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 1.4%

Shares of MDT stock opened at $96.71 on Wednesday. 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 2.54 and a quick ratio of 1.87. The stock has a fifty day moving average price of $98.92 and a 200 day moving average price of $96.99. The stock has a market cap of $124.16 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.46 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the prior year, the company posted $1.38 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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 dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is presently 79.11%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MDT shares. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Daiwa Securities Group lowered their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Sunday. Wells Fargo & Company started coverage on Medtronic in a research report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective for the company. Finally, Royal Bank Of Canada raised their price objective on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.74.

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).