Medtronic PLC $MDT Shares Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC raised its position in Medtronic PLC (NYSE:MDT) by 19.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,941 shares of the medical technology company’s stock after buying an additional 15,663 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Medtronic were worth $8,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MDT. Vanguard Group Inc. raised its position in Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Geode Capital Management LLC increased its stake in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after buying an additional 595,549 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after buying an additional 666,557 shares during the period. Finally, Norges Bank purchased a new position in shares of Medtronic during the second quarter worth about $1,432,698,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on MDT shares. Morgan Stanley upped their price objective on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Citigroup boosted their target price on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. UBS Group increased their price target on shares of Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Medtronic in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.44.

Medtronic Stock Down 0.6%

Shares of NYSE:MDT opened at $101.39 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $129.99 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.67 and a beta of 0.71. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $106.33. The stock’s fifty day simple moving average is $96.79 and its 200-day simple moving average is $92.22.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS 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 during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the business posted $1.26 EPS. The firm’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. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be given 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 of this dividend is Friday, December 26th. Medtronic’s payout ratio is currently 76.55%.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.