Joule Financial LLC Acquires Shares of 8,172 Medtronic PLC $MDT

Joule Financial LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,172 shares of the medical technology company’s stock, valued at approximately $785,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Medtronic by 1.0% during the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock valued at $5,800,550,000 after buying an additional 625,992 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Medtronic by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after acquiring an additional 192,410 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Medtronic by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after acquiring an additional 98,220 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Medtronic by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock worth $1,067,055,000 after acquiring an additional 327,899 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after acquiring an additional 2,658,981 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Down 0.0%

NYSE MDT opened at $86.61 on Friday. 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 52 week low of $79.55 and a 52 week high of $106.33. The firm has a market capitalization of $111.19 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.24 and a beta of 0.75. The company has a fifty day moving average of $94.47 and a two-hundred day moving average of $96.24.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $8.89 billion. During the same quarter last year, the business earned $1.38 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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 paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.3%. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the business’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 completion of the transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MDT shares. CICC Research started coverage on shares of Medtronic in a report on Friday, January 30th. They issued an “outperform” rating for the company. Barclays upped their price target on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler dropped their price objective on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Medtronic in a report on Thursday, March 26th. Finally, UBS Group restated a “neutral” rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 4th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.85.

About Medtronic

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).