Verdence Capital Advisors LLC Boosts Stake in Medtronic PLC $MDT

Verdence Capital Advisors LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 48.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 43,500 shares of the medical technology company’s stock after acquiring an additional 14,104 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Medtronic were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Delos Wealth Advisors LLC purchased a new stake in shares of Medtronic during the 2nd quarter valued at about $27,000. Corundum Trust Company INC bought a new position in Medtronic during the third quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Medtronic in the third quarter worth approximately $33,000. Tripletail Wealth Management LLC bought a new stake in Medtronic in the 3rd quarter worth approximately $34,000. Finally, GFG Capital LLC bought a new position in shares of Medtronic during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $96.82 on Tuesday. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The firm has a market cap of $124.12 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.55 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. The firm has a 50-day simple moving average of $99.08 and a two-hundred day simple moving average of $94.99.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion during 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%.Medtronic’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MDT shares. JPMorgan Chase & Co. increased their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. UBS Group increased their price target on shares of Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Cowen reaffirmed a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $110.00 target price on shares of Medtronic in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.28.

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).