Synovus Financial Corp Boosts Position in Medtronic PLC $MDT

Synovus Financial Corp grew its holdings in Medtronic PLC (NYSE:MDT) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,358 shares of the medical technology company’s stock after acquiring an additional 6,330 shares during the period. Synovus Financial Corp’s holdings in Medtronic were worth $4,322,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Corundum Trust Company INC purchased a new stake in Medtronic in the third quarter valued at $27,000. Valley Wealth Managers Inc. purchased a new stake in shares of Medtronic in the third quarter worth about $29,000. Delos Wealth Advisors LLC acquired a new stake in Medtronic during the second quarter worth about $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Medtronic during the third quarter worth about $33,000. Finally, Tripletail Wealth Management LLC purchased a new position in Medtronic during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on MDT shares. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research report on Monday, December 29th. The Goldman Sachs Group set a $111.00 price target on shares of Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Truist Financial decreased their price objective on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, UBS Group restated a “neutral” rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.05.

Medtronic Stock Performance

MDT opened at $96.76 on Friday. The company has a market cap of $124.05 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 2.60 and a beta of 0.71. The firm’s fifty day simple moving average is $99.10 and its two-hundred day simple moving average is $96.60. 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 52-week low of $79.55 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion for 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 was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a $0.71 dividend. 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 (DPR) is presently 76.55%.

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).