Nippon Life Global Investors Americas Inc. Sells 25,130 Shares of Medtronic PLC $MDT

Nippon Life Global Investors Americas Inc. lowered its stake in Medtronic PLC (NYSE:MDT) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 553,170 shares of the medical technology company’s stock after selling 25,130 shares during the period. Medtronic accounts for approximately 2.2% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 13th biggest holding. Nippon Life Global Investors Americas Inc.’s holdings in Medtronic were worth $53,077,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MDT. Riverbend Wealth Management LLC boosted its stake in shares of Medtronic by 3.2% during the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 107 shares in the last quarter. Wynn Capital LLC lifted its holdings in 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 period. Meridian Investment Counsel Inc. boosted its position in Medtronic by 0.4% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after acquiring an additional 110 shares in the last quarter. Saxony Capital Management LLC grew its holdings 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 during the period. Finally, Cape Investment Advisory Inc. raised its position in shares of Medtronic by 3.2% in the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after acquiring an additional 113 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of MDT opened at $96.82 on Friday. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. The company has a market capitalization of $124.12 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 2.55 and a beta of 0.71. The firm has a 50 day moving average of $98.99 and a 200 day moving average of $94.88. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is currently 76.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MDT shares. Daiwa Capital Markets upped their price target on Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Stifel Nicolaus boosted their price objective on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Robert W. Baird set a $103.00 price objective on shares of Medtronic in a report on Tuesday, December 16th. Finally, Leerink Partners set a $120.00 price target on Medtronic and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $110.28.

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).