Swiss National Bank Decreases Stock Position in Medtronic PLC $MDT

Swiss National Bank lessened its stake in Medtronic PLC (NYSE:MDT) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,693,366 shares of the medical technology company’s stock after selling 189,000 shares during the period. Swiss National Bank owned about 0.29% of Medtronic worth $351,756,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Medtronic in the second quarter valued at approximately $1,432,698,000. Barclays PLC grew its holdings in shares of Medtronic by 104.6% in the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after purchasing an additional 3,492,192 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Medtronic by 78.3% in the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after buying an additional 3,307,211 shares during the period. Guinness Asset Management LTD bought a new stake in Medtronic during the 3rd quarter valued at $275,556,000. Finally, Vanguard Group Inc. raised its holdings in Medtronic by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after buying an additional 1,895,165 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 2.3%

Shares of NYSE MDT opened at $90.83 on Monday. The firm has a fifty day simple moving average of $98.69 and a two-hundred day simple moving average of $97.02. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $116.61 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, March 27th. Medtronic’s payout ratio is presently 79.11%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Robert W. Baird cut their price target on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Morgan Stanley raised their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Finally, William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. One equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.74.

Insider Buying and Selling at Medtronic

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

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).