Van ECK Associates Corp Acquires 17,328 Shares of Medtronic PLC $MDT

Van ECK Associates Corp increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,607,491 shares of the medical technology company’s stock after purchasing an additional 17,328 shares during the period. Van ECK Associates Corp’s holdings in Medtronic were worth $248,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Medtronic during the second quarter worth approximately $1,432,698,000. Barclays PLC raised its stake in Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after purchasing an additional 3,492,192 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after purchasing an additional 3,307,211 shares during the period. Guinness Asset Management LTD bought a new position in shares of Medtronic during the 3rd quarter worth about $275,556,000. Finally, Vanguard Group Inc. increased its holdings in shares of Medtronic by 1.5% during 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 purchasing an additional 1,895,165 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Leerink Partners cut their price target on Medtronic from $120.00 to $119.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. UBS Group reiterated a “neutral” rating and issued a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 4th. Wells Fargo & Company began coverage on Medtronic in a report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective on the stock. Finally, Mizuho upgraded Medtronic to a “strong-buy” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.74.

Insider Activity at Medtronic

In other 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 transaction of $5,132,120.04. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Medtronic Trading Up 0.4%

Shares of MDT stock opened at $91.26 on Tuesday. The company has a market capitalization of $117.17 billion, a P/E ratio of 25.42, a P/E/G ratio of 2.28 and a beta of 0.71. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $98.59 and a 200 day moving average price of $97.02.

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, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm 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 $0.71 dividend. The ex-dividend date is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s payout ratio is presently 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).