Legal & General Group Plc Buys 827,530 Shares of Medtronic PLC $MDT

Legal & General Group Plc boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,483,711 shares of the medical technology company’s stock after acquiring an additional 827,530 shares during the quarter. Legal & General Group Plc’s holdings in Medtronic were worth $903,229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC acquired a new position in Medtronic in the second quarter worth $27,000. Corundum Trust Company INC acquired a new stake in shares of Medtronic in the third quarter valued at $27,000. Valley Wealth Managers Inc. acquired a new position in Medtronic during the 3rd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in Medtronic during the 3rd quarter worth about $33,000. Finally, Tripletail Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 0.4%

NYSE:MDT opened at $91.26 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The firm has a market capitalization of $117.17 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.28 and a beta of 0.71. The business’s 50-day moving average price is $98.59 and its two-hundred day moving average price is $97.02.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MDT shares. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Needham & Company LLC dropped their price objective on shares of Medtronic from $121.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Truist Financial reduced their price objective on Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. William Blair upgraded Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group restated a “hold” rating and set a $110.00 target price on shares of Medtronic in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.74.

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).