Shorepoint Capital Partners LLC Invests $3.40 Million in Medtronic PLC $MDT

Shorepoint Capital Partners LLC purchased a new position in Medtronic PLC (NYSE:MDT) in the third quarter, Holdings Channel reports. The fund purchased 35,714 shares of the medical technology company’s stock, valued at approximately $3,401,000.

A number of other large investors also recently bought and sold shares of MDT. GAMMA Investing LLC raised its position in shares of Medtronic by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 21,502 shares of the medical technology company’s stock valued at $2,048,000 after acquiring an additional 3,351 shares in the last quarter. Rowlandmiller & PARTNERS.ADV increased its stake in Medtronic by 32.2% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 22,633 shares of the medical technology company’s stock valued at $2,156,000 after purchasing an additional 5,512 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Medtronic by 56.8% during the second quarter. Corient Private Wealth LLC now owns 959,017 shares of the medical technology company’s stock worth $83,598,000 after purchasing an additional 347,435 shares during the period. Caldwell Trust Co bought a new position in shares of Medtronic in the 2nd quarter worth about $561,000. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Medtronic by 14.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 20,836 shares of the medical technology company’s stock valued at $1,814,000 after buying an additional 2,681 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $98.68 on Tuesday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $106.33. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $126.51 billion, a P/E ratio of 26.60, a PEG ratio of 2.63 and a beta of 0.71. The company has a 50-day simple moving average of $97.28 and a 200 day simple moving average of $93.07.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays increased their price objective on shares of Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. JPMorgan Chase & Co. raised their price target on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Robert W. Baird set a $103.00 price objective on Medtronic in a research report on Tuesday. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Finally, Cowen reiterated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.