Swedbank AB Purchases 7,182 Shares of Medtronic PLC $MDT

by · The Markets Daily

Swedbank AB grew its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 609,972 shares of the medical technology company’s stock after buying an additional 7,182 shares during the period. Swedbank AB’s holdings in Medtronic were worth $58,094,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MDT. Norges Bank bought a new stake in Medtronic during the second quarter worth about $1,432,698,000. Vanguard Group Inc. lifted its holdings in shares of Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Medtronic by 100.8% during the first quarter. Alyeska Investment Group L.P. now owns 2,873,623 shares of the medical technology company’s stock valued at $258,224,000 after purchasing an additional 1,442,768 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Medtronic by 32.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,710,636 shares of the medical technology company’s stock worth $513,152,000 after purchasing an additional 1,384,910 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Medtronic by 332.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,494,782 shares of the medical technology company’s stock worth $130,300,000 after buying an additional 1,148,803 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.2%

Shares of MDT stock opened at $97.31 on Thursday. The stock has a market capitalization of $124.75 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.57 and a beta of 0.71. 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 firm’s 50 day moving average is $97.48 and its 200 day moving average is $93.64. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $106.33.

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

Medtronic Dividend Announcement

The firm also recently announced 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. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, December 26th. Medtronic’s payout ratio is 76.55%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MDT. Cowen reiterated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Medtronic in a report on Monday, December 15th. Robert W. Baird set a $103.00 price objective on shares of Medtronic in a report on Tuesday, December 16th. Finally, Stifel Nicolaus upped their price objective on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $109.94.

View Our Latest Report on Medtronic

About Medtronic

(Free Report)

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).

See Also

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