Financiere des Professionnels Fonds d investissement inc. Lowers Stake in Medtronic PLC $MDT

Financiere des Professionnels Fonds d investissement inc. reduced its position in Medtronic PLC (NYSE:MDT) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,652 shares of the medical technology company’s stock after selling 7,223 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Medtronic were worth $12,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Medtronic by 1.5% in 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 buying an additional 1,895,165 shares during the period. Geode Capital Management LLC lifted its position in shares of Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after acquiring an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after acquiring an additional 595,549 shares during the period. Invesco Ltd. grew its position in shares of Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after purchasing an additional 666,557 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Medtronic during the second quarter worth about $1,432,698,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. Barclays upped their target price on shares of Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Morgan Stanley increased their price objective on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Finally, Robert W. Baird set a $103.00 target price on Medtronic in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.94.

Medtronic Stock Down 0.0%

Shares of NYSE MDT opened at $96.03 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.80 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. The firm’s 50-day moving average price is $97.65 and its 200-day moving average price is $94.01. The stock has a market capitalization of $123.11 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 2.53 and a beta of 0.71.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is 76.55%.

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).