Medtronic PLC $MDT Shares Acquired by Westpac Banking Corp

Westpac Banking Corp grew its position in shares of Medtronic PLC (NYSE:MDT) by 1,223.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 37,507 shares of the medical technology company’s stock after buying an additional 34,673 shares during the period. Westpac Banking Corp’s holdings in Medtronic were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Interchange Capital Partners LLC grew its position in shares of Medtronic by 79.6% during the 3rd quarter. Interchange Capital Partners LLC now owns 5,865 shares of the medical technology company’s stock valued at $559,000 after acquiring an additional 2,599 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Medtronic by 4.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,631,648 shares of the medical technology company’s stock valued at $250,638,000 after purchasing an additional 112,717 shares during the period. AlphaCore Capital LLC increased its position in shares of Medtronic by 53.5% in the third quarter. AlphaCore Capital LLC now owns 9,464 shares of the medical technology company’s stock valued at $908,000 after buying an additional 3,299 shares in the last quarter. Thornburg Investment Management Inc. raised its stake in shares of Medtronic by 0.4% during the 3rd quarter. Thornburg Investment Management Inc. now owns 1,930,295 shares of the medical technology company’s stock worth $183,841,000 after buying an additional 7,485 shares during the period. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $1,587,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT stock opened at $96.71 on Thursday. 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 company has a market capitalization of $123.98 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.43 and a beta of 0.71. The firm’s 50-day moving average is $98.98 and its two-hundred day moving average is $96.83. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.88% and a net margin of 13.00%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors 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 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s payout ratio is 79.11%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MDT. Truist Financial dropped their price target on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Finally, Citigroup started coverage on Medtronic in a research note on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price objective for the company. One research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.84.

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).