Dimensional Fund Advisors LP Has $702.75 Million Position in Medtronic PLC $MDT

Dimensional Fund Advisors LP lifted its stake in Medtronic PLC (NYSE:MDT) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,379,881 shares of the medical technology company’s stock after buying an additional 154,209 shares during the period. Dimensional Fund Advisors LP’s holdings in Medtronic were worth $702,748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after buying an additional 381 shares in the last quarter. TIAA Trust National Association lifted its holdings in shares of Medtronic by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 12,928 shares of the medical technology company’s stock worth $1,127,000 after acquiring an additional 158 shares during the period. Sigma Planning Corp boosted its position in shares of Medtronic by 1.8% during the 2nd quarter. Sigma Planning Corp now owns 44,062 shares of the medical technology company’s stock valued at $3,841,000 after acquiring an additional 766 shares in the last quarter. Finally, Burney Co. increased its stake in Medtronic by 10.4% in the second quarter. Burney Co. now owns 10,048 shares of the medical technology company’s stock valued at $876,000 after acquiring an additional 947 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup assumed coverage on Medtronic in a report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price objective on the stock. Daiwa Securities Group decreased their price target on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Jefferies Financial Group reiterated a “hold” rating and set a $110.00 price objective on shares of Medtronic in a research note on Wednesday, November 19th. Truist Financial cut their price objective on Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Finally, William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.74.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $96.71 on Wednesday. The stock has a 50-day simple moving average of $98.92 and a 200 day simple moving average of $96.99. The stock has a market capitalization of $124.16 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 2.46 and a beta of 0.71. The company has a quick ratio of 1.87, a current ratio of 2.54 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.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter last year, the company posted $1.38 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share 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 dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is currently 79.11%.

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).