Lighthouse Investment Partners LLC Has $4.92 Million Stock Position in Medtronic PLC $MDT

Lighthouse Investment Partners LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 106.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,700 shares of the medical technology company’s stock after buying an additional 26,700 shares during the period. Lighthouse Investment Partners LLC’s holdings in Medtronic were worth $4,924,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MDT. Delos Wealth Advisors LLC bought a new stake in Medtronic during the 2nd quarter worth $27,000. Corundum Trust Company INC bought a new position in Medtronic in the third quarter valued at about $27,000. Valley Wealth Managers Inc. acquired a new stake in shares of Medtronic during the third quarter valued at about $29,000. Imprint Wealth LLC acquired a new stake in shares of Medtronic during the third quarter valued at about $31,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Medtronic during the third quarter worth about $33,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. CICC Research initiated coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “outperform” rating on the stock. Citigroup started coverage on shares of Medtronic in a research report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price target for the company. Robert W. Baird dropped their price target on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.74.

Medtronic Stock Performance

Shares of MDT stock opened at $88.13 on Tuesday. The stock has a market capitalization of $113.15 billion, a PE ratio of 24.55, a PEG ratio of 2.24 and a beta of 0.71. The business’s 50 day simple moving average is $97.77 and its 200 day simple moving average is $96.88. 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 PLC has a one year low of $79.55 and a one year high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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 firm had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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 paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

About Medtronic

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).