Sumitomo Mitsui Trust Group Inc. Sells 7,787 Shares of Medtronic PLC $MDT

Sumitomo Mitsui Trust Group Inc. lowered its position in Medtronic PLC (NYSE:MDT) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,211,219 shares of the medical technology company’s stock after selling 7,787 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Medtronic worth $305,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the period. Jones Financial Companies Lllp raised its stake in Medtronic by 32.2% during the first quarter. Jones Financial Companies Lllp now owns 690,119 shares of the medical technology company’s stock worth $60,777,000 after acquiring an additional 168,092 shares in the last quarter. Kera Capital Partners Inc. bought a new position in shares of Medtronic during the second quarter valued at $298,000. Harbor Investment Advisory LLC boosted its stake in shares of Medtronic by 2.8% in the 2nd quarter. Harbor Investment Advisory LLC now owns 11,485 shares of the medical technology company’s stock valued at $1,001,000 after purchasing an additional 312 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Medtronic by 18.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 26,105 shares of the medical technology company’s stock worth $2,275,000 after purchasing an additional 3,977 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 1.2%

Shares of NYSE MDT opened at $97.54 on Monday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The company’s fifty day moving average is $98.31 and its 200-day moving average is $94.57. The stock has a market cap of $125.04 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 2.57 and a beta of 0.71.

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. The firm had revenue of $8.96 billion during 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 company’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders 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 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is currently 76.55%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MDT shares. Sanford C. Bernstein lifted their price target on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, November 19th. Daiwa Capital Markets raised their price target on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, Robert W. Baird set a $103.00 target price on Medtronic in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.28.

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).