Medtronic PLC $MDT Shares Acquired by Nexus Investment Management ULC

Nexus Investment Management ULC increased its holdings in Medtronic PLC (NYSE:MDT) by 26.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,403 shares of the medical technology company’s stock after buying an additional 60,614 shares during the quarter. Medtronic comprises 4.0% of Nexus Investment Management ULC’s portfolio, making the stock its 12th largest holding. Nexus Investment Management ULC’s holdings in Medtronic were worth $27,944,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MDT. Delos Wealth Advisors LLC bought a new position in shares of Medtronic in the second quarter worth $27,000. Corundum Trust Company INC bought a new stake in shares of Medtronic during the third quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Medtronic during the third quarter valued at about $33,000. Tripletail Wealth Management LLC acquired a new stake in Medtronic in the third quarter worth about $34,000. Finally, GFG Capital LLC bought a new position in Medtronic in the 2nd quarter valued at about $36,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of a number of recent analyst reports. Daiwa Capital Markets boosted their price target on shares of Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Robert W. Baird set a $103.00 target price on Medtronic in a report on Tuesday, December 16th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Sanford C. Bernstein boosted their price objective on Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Morgan Stanley upped their price objective on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.28.

Medtronic Price Performance

MDT opened at $97.54 on Monday. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The firm has a market capitalization of $125.04 billion, a P/E ratio of 26.29, a PEG ratio of 2.57 and a beta of 0.71. 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 stock has a fifty day moving average of $98.31 and a 200-day moving average of $94.57.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is presently 76.55%.

Medtronic Company 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).