Nippon Life Global Investors Americas Inc. Sells 25,130 Shares of Medtronic PLC $MDT

Nippon Life Global Investors Americas Inc. trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 553,170 shares of the medical technology company’s stock after selling 25,130 shares during the quarter. Medtronic makes up 2.2% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 13th largest holding. Nippon Life Global Investors Americas Inc.’s holdings in Medtronic were worth $53,077,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Delos Wealth Advisors LLC purchased a new position in Medtronic in the second quarter worth about $27,000. Corundum Trust Company INC bought a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Medtronic in the third quarter worth approximately $33,000. Tripletail Wealth Management LLC purchased a new stake in Medtronic during the third quarter valued at approximately $34,000. Finally, GFG Capital LLC purchased a new stake in Medtronic during the second quarter valued at approximately $36,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and set a $110.00 price objective on shares of Medtronic in a research report on Wednesday, November 19th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Citigroup lifted their price objective on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Finally, Stifel Nicolaus upped their price target on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic Trading Down 2.2%

Medtronic stock opened at $96.82 on Friday. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The firm’s 50 day moving average price is $98.99 and its 200-day moving average price is $94.88. 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 stock has a market cap of $124.12 billion, a P/E ratio of 26.10, a PEG ratio of 2.55 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly 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. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. Medtronic’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

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).