Skba Capital Management LLC Has $29.79 Million Stock Holdings in Medtronic PLC $MDT

Skba Capital Management LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,762 shares of the medical technology company’s stock after buying an additional 11,500 shares during the quarter. Medtronic comprises 4.1% of Skba Capital Management LLC’s portfolio, making the stock its biggest holding. Skba Capital Management LLC’s holdings in Medtronic were worth $29,787,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC purchased a new position in shares of Medtronic in the second quarter valued at $27,000. Corundum Trust Company INC bought a new position in Medtronic during the third quarter valued at $27,000. Valley Wealth Managers Inc. purchased a new position in shares of Medtronic in the 3rd quarter worth $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Medtronic in the 3rd quarter worth about $33,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at about $34,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT stock opened at $96.71 on Wednesday. The company has a market capitalization of $124.16 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.46 and a beta of 0.71. The company’s 50-day simple moving average is $98.92 and its two-hundred day simple moving average is $96.99. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

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. The firm had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.Medtronic’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, December 26th. Medtronic’s payout ratio is presently 79.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Leerink Partners decreased their price objective on Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Royal Bank Of Canada lifted their price objective on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. TD Cowen reissued a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Truist Financial dropped their price target on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. Finally, UBS Group reissued a “neutral” rating and issued a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 4th. One 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.74.

Medtronic Company 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).