HB Wealth Management LLC Has $10.35 Million Stock Position in Medtronic PLC $MDT

HB Wealth Management LLC lifted its position in Medtronic PLC (NYSE:MDT) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 108,625 shares of the medical technology company’s stock after buying an additional 7,356 shares during the quarter. HB Wealth Management LLC’s holdings in Medtronic were worth $10,346,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. AXQ Capital LP increased its holdings in Medtronic by 25.6% in the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after buying an additional 2,013 shares during the last quarter. GC Wealth Management RIA LLC lifted its stake in Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after acquiring an additional 5,734 shares during the last quarter. Merit Financial Group LLC grew its position in Medtronic by 37.5% in the second quarter. Merit Financial Group LLC now owns 57,035 shares of the medical technology company’s stock worth $4,972,000 after acquiring an additional 15,561 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Medtronic by 22.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 5,296 shares during the last quarter. Finally, World Investment Advisors increased its stake in shares of Medtronic by 1.9% during the 2nd quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after purchasing an additional 2,868 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $98.78 on Friday. The stock has a 50-day simple moving average of $98.17 and a 200 day simple moving average of $94.37. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The stock has a market capitalization of $126.64 billion, a PE ratio of 26.63, a P/E/G ratio of 2.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the business posted $1.26 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s dividend payout ratio is 76.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MDT shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a research note on Wednesday, November 19th. UBS Group boosted their price target on Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Truist Financial lowered their price objective on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. JPMorgan Chase & Co. raised their price objective on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Finally, Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.22.

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).