Synovus Financial Corp Increases Position in Medtronic PLC $MDT

Synovus Financial Corp grew its holdings in Medtronic PLC (NYSE:MDT) by 16.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,358 shares of the medical technology company’s stock after purchasing an additional 6,330 shares during the quarter. Synovus Financial Corp’s holdings in Medtronic were worth $4,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Brighton Jones LLC increased its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares during the period. Whittier Trust Co. increased its position in Medtronic by 21.3% during the second quarter. Whittier Trust Co. now owns 8,205 shares of the medical technology company’s stock worth $715,000 after purchasing an additional 1,439 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Medtronic during the second quarter worth about $374,000. Finally, Brookstone Capital Management boosted its holdings in Medtronic by 12.4% in the 2nd quarter. Brookstone Capital Management now owns 22,772 shares of the medical technology company’s stock valued at $1,985,000 after purchasing an additional 2,509 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

MDT stock opened at $96.76 on Friday. The business’s fifty day moving average price is $99.10 and its 200 day moving average price is $96.60. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $124.05 billion, a PE ratio of 27.10, a P/E/G ratio of 2.60 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.88% and a net margin of 13.00%.Medtronic’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a dividend of $0.71 per share. The ex-dividend date 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 76.55%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MDT shares. Citigroup assumed coverage on shares of Medtronic in a report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price target for the company. Royal Bank Of Canada increased their price objective on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. JPMorgan Chase & Co. reduced their target price on Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday. Truist Financial lowered their price target on Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Finally, Leerink Partners cut their price objective on Medtronic from $120.00 to $119.00 and set an “outperform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.05.

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).