TD Waterhouse Canada Inc. Increases Stock Position in Medtronic PLC $MDT

TD Waterhouse Canada Inc. lifted its position in shares of Medtronic PLC (NYSE:MDT) by 5.9% during the third quarter, Holdings Channel reports. The firm owned 160,063 shares of the medical technology company’s stock after acquiring an additional 8,970 shares during the period. TD Waterhouse Canada Inc.’s holdings in Medtronic were worth $15,201,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Crumly & Associates Inc. lifted its position in shares of Medtronic by 6.4% during the 3rd quarter. Crumly & Associates Inc. now owns 7,516 shares of the medical technology company’s stock worth $716,000 after buying an additional 453 shares in the last quarter. Coastal Bridge Advisors LLC grew its holdings in shares of Medtronic by 1.3% in the third quarter. Coastal Bridge Advisors LLC now owns 49,213 shares of the medical technology company’s stock valued at $4,687,000 after acquiring an additional 623 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Medtronic during the third quarter valued at approximately $15,558,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Medtronic by 23.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 216,460 shares of the medical technology company’s stock worth $20,616,000 after acquiring an additional 41,339 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Medtronic by 0.9% in the third 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 purchasing an additional 192,410 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 0.2%

Medtronic stock opened at $100.99 on Friday. The firm has a 50 day simple moving average of $99.57 and a 200 day simple moving average of $95.55. 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 1-year low of $79.55 and a 1-year high of $106.33. The firm has a market capitalization of $129.46 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 2.66 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. The firm 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 business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter 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, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada increased their price target on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Citigroup lifted their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Stifel Nicolaus boosted their target price on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, CICC Research started coverage on shares of Medtronic in a research note on Friday. They set an “outperform” rating for the company. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $110.28.

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).