Mitsubishi UFJ Trust & Banking Corp Buys 31,434 Shares of Medtronic PLC $MDT

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Medtronic PLC (NYSE:MDT) by 5.3% during the third quarter, HoldingsChannel.com reports. The fund owned 623,170 shares of the medical technology company’s stock after buying an additional 31,434 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Medtronic were worth $59,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MDT. Norges Bank purchased a new stake in Medtronic in the second quarter worth approximately $1,432,698,000. Vanguard Group Inc. boosted its stake in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after buying an additional 1,895,165 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Medtronic by 332.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,494,782 shares of the medical technology company’s stock worth $130,300,000 after buying an additional 1,148,803 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Medtronic by 8,779.8% in the second quarter. Laurel Wealth Advisors LLC now owns 1,069,664 shares of the medical technology company’s stock worth $93,243,000 after acquiring an additional 1,057,618 shares during the period. Finally, Altrinsic Global Advisors LLC increased its position in Medtronic by 47.7% during the second quarter. Altrinsic Global Advisors LLC now owns 2,688,334 shares of the medical technology company’s stock valued at $234,342,000 after acquiring an additional 868,256 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MDT. Truist Financial dropped their target price on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. JPMorgan Chase & Co. raised their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Robert W. Baird set a $103.00 target price on shares of Medtronic in a research report on Tuesday, December 16th. Leerink Partners set a $120.00 price target on shares of Medtronic and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Finally, Sanford C. Bernstein lifted their price target on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.28.

Medtronic Price Performance

NYSE MDT opened at $100.98 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33. The stock has a market cap of $129.45 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 2.66 and a beta of 0.71. The company’s 50 day moving average is $99.44 and its two-hundred day moving average is $95.28.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s payout ratio is presently 76.55%.

Medtronic 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).