Westpac Banking Corp Purchases 34,673 Shares of Medtronic PLC $MDT

Westpac Banking Corp boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 1,223.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,507 shares of the medical technology company’s stock after acquiring an additional 34,673 shares during the period. Westpac Banking Corp’s holdings in Medtronic were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Interchange Capital Partners LLC boosted its stake in shares of Medtronic by 79.6% during the third quarter. Interchange Capital Partners LLC now owns 5,865 shares of the medical technology company’s stock valued at $559,000 after purchasing an additional 2,599 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Medtronic by 4.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,631,648 shares of the medical technology company’s stock valued at $250,638,000 after acquiring an additional 112,717 shares in the last quarter. AlphaCore Capital LLC boosted its position in Medtronic by 53.5% during the 3rd quarter. AlphaCore Capital LLC now owns 9,464 shares of the medical technology company’s stock valued at $908,000 after acquiring an additional 3,299 shares in the last quarter. Thornburg Investment Management Inc. increased its holdings in shares of Medtronic by 0.4% in the 3rd quarter. Thornburg Investment Management Inc. now owns 1,930,295 shares of the medical technology company’s stock valued at $183,841,000 after acquiring an additional 7,485 shares during the period. Finally, K.J. Harrison & Partners Inc bought a new position in shares of Medtronic in the 3rd quarter worth $1,587,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $96.71 on Thursday. The stock’s fifty day moving average price is $98.98 and its 200 day moving average price is $96.83. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The company has a market cap of $123.98 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.43 and a beta of 0.71.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.88% and a net margin of 13.00%.Medtronic’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Leerink Partners cut their target price on Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 18th. Royal Bank Of Canada raised their price target on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. CICC Research began coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “outperform” rating for the company. Jefferies Financial Group restated a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, November 19th. Finally, Robert W. Baird reduced their price target on Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $110.84.

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).