Legal & General Group Plc Acquires 827,530 Shares of Medtronic PLC $MDT

Legal & General Group Plc grew its holdings in Medtronic PLC (NYSE:MDT) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,483,711 shares of the medical technology company’s stock after acquiring an additional 827,530 shares during the period. Legal & General Group Plc owned 0.74% of Medtronic worth $903,229,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Riverbend Wealth Management LLC boosted its holdings in Medtronic by 3.2% in the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock worth $332,000 after purchasing an additional 107 shares in the last quarter. Holistic Financial Partners raised its holdings in Medtronic by 3.0% during the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock valued at $352,000 after buying an additional 109 shares in the last quarter. Wynn Capital LLC lifted its position in shares of Medtronic by 2.4% in the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after buying an additional 110 shares during the last quarter. Meridian Investment Counsel Inc. lifted its position in shares of Medtronic by 0.4% in the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after buying an additional 110 shares during the last quarter. Finally, Saxony Capital Management LLC boosted its stake in shares of Medtronic by 3.8% during the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after acquiring an additional 112 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 0.4%

Shares of Medtronic stock opened at $91.26 on Tuesday. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The company’s fifty day simple moving average is $98.59 and its 200-day simple moving average is $97.02. The company has a market cap of $117.17 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.28 and a beta of 0.71. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is 79.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Leerink Partners reduced their target price on Medtronic from $120.00 to $119.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Mizuho raised Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the company a “neutral” rating in a report on Wednesday, November 19th. Finally, Robert W. Baird dropped their price target on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.74.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was 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. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by corporate insiders.

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).