Medtronic PLC $MDT Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,775,234 shares of the medical technology company’s stock after purchasing an additional 40,196 shares during the quarter. Medtronic accounts for approximately 1.7% of First Eagle Investment Management LLC’s portfolio, making the stock its 23rd biggest position. First Eagle Investment Management LLC’s holdings in Medtronic were worth $939,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pier 88 Investment Partners LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $2,920,000. Certior Financial Group LLC increased its position in shares of Medtronic by 8.0% during the 4th quarter. Certior Financial Group LLC now owns 3,716 shares of the medical technology company’s stock worth $357,000 after purchasing an additional 275 shares during the last quarter. Nicholas Company Inc. increased its position in shares of Medtronic by 38.6% during the 4th quarter. Nicholas Company Inc. now owns 70,815 shares of the medical technology company’s stock worth $6,802,000 after purchasing an additional 19,740 shares during the last quarter. Summit Investment Advisory Services LLC increased its position in shares of Medtronic by 33.4% during the 4th quarter. Summit Investment Advisory Services LLC now owns 4,391 shares of the medical technology company’s stock worth $422,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Kepler Cheuvreux Suisse SA acquired a new stake in shares of Medtronic during the 4th quarter worth about $13,154,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE MDT opened at $74.56 on Tuesday. The company has a market cap of $95.73 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.81 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The stock has a 50-day moving average of $86.40 and a two-hundred day moving average of $94.14. Medtronic PLC has a 1-year low of $74.40 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% 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 company posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.57 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s payout ratio is currently 79.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. Daiwa Securities Group cut their price objective on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Stifel Nicolaus cut their price objective on Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Monday, April 6th. CICC Research initiated coverage on Medtronic in a research report on Friday, January 30th. They set an “outperform” rating for the company. Finally, Citigroup cut their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.80.

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).