Medtronic PLC $MDT Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 6.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 355,160 shares of the medical technology company’s stock after selling 25,090 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Medtronic were worth $33,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Riverbend Wealth Management LLC lifted its holdings in shares of Medtronic by 3.2% in 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 during the period. Wynn Capital LLC raised its position in Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after acquiring an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. lifted its holdings in Medtronic by 0.4% in 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 during the period. Saxony Capital Management LLC boosted its position in Medtronic by 3.8% in the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its stake in shares of Medtronic by 3.2% during the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after purchasing an additional 113 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.4%

MDT opened at $100.98 on Friday. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $99.44 and a 200 day moving average price of $95.28. The company has a market cap of $129.45 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.71.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s payout ratio is presently 76.55%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MDT. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Wells Fargo & Company increased their target price on shares of Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Stifel Nicolaus lifted their price target on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, Barclays increased their price target on Medtronic from $111.00 to $116.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.28.

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).