Cerity Partners LLC Has $53.09 Million Stock Position in Medtronic PLC $MDT

Cerity Partners LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 6.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 608,936 shares of the medical technology company’s stock after purchasing an additional 35,902 shares during the quarter. Cerity Partners LLC’s holdings in Medtronic were worth $53,086,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MDT shares. Wells Fargo & Company upped their price target on Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 target price on shares of Medtronic in a report on Wednesday, November 19th. Cowen restated a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Truist Financial boosted their price objective on shares of Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a research report on Thursday, November 20th. Finally, Robert W. Baird upped their price objective on shares of Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.44.

Medtronic Trading Down 0.6%

NYSE:MDT opened at $101.39 on Monday. 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. The stock’s 50 day moving average price is $96.79 and its 200 day moving average price is $92.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The firm had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The company’s 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. On average, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Medtronic Company 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.