Swiss National Bank Cuts Position in Medtronic PLC $MDT

Swiss National Bank trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,693,366 shares of the medical technology company’s stock after selling 189,000 shares during the period. Swiss National Bank’s holdings in Medtronic were worth $351,756,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MDT. Riverbend Wealth Management LLC increased its position in Medtronic by 3.2% during the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after buying an additional 107 shares in the last quarter. Holistic Financial Partners boosted its holdings in Medtronic by 3.0% in the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock worth $352,000 after acquiring an additional 109 shares in the last quarter. Wynn Capital LLC grew its stake in shares of Medtronic by 2.4% in the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after acquiring an additional 110 shares during the last quarter. Meridian Investment Counsel Inc. increased its holdings in shares of Medtronic by 0.4% during the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after acquiring an additional 110 shares in the last quarter. Finally, Saxony Capital Management LLC increased its holdings in shares of Medtronic by 3.8% during the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock valued at $290,000 after acquiring an additional 112 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MDT shares. Sanford C. Bernstein upped their price target on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Morgan Stanley lifted their target price on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.74.

Medtronic Price Performance

NYSE MDT opened at $90.83 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company has a market capitalization of $116.61 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 2.28 and a beta of 0.71. The stock has a 50-day moving average of $98.69 and a 200 day moving average of $97.02. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be issued a $0.71 dividend. The ex-dividend date is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Medtronic 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).