Medtronic PLC $MDT Position Trimmed by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC lowered its stake in Medtronic PLC (NYSE:MDT) by 46.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,202 shares of the medical technology company’s stock after selling 6,251 shares during the period. Manhattan West Asset Management LLC’s holdings in Medtronic were worth $686,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Delos Wealth Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter worth $27,000. Corundum Trust Company INC purchased a new stake in shares of Medtronic during the third quarter valued at $27,000. Valley Wealth Managers Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at $29,000. Imprint Wealth LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $31,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Medtronic in the 3rd quarter worth about $33,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent analyst reports. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Sanford C. Bernstein lifted their target price on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. UBS Group restated a “neutral” rating and issued a $104.00 price target on shares of Medtronic in a research report on Wednesday, February 4th. Finally, CICC Research started coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $110.74.

Medtronic Stock Performance

Shares of MDT opened at $88.50 on Wednesday. The company has a market capitalization of $113.62 billion, a PE ratio of 24.65, a PEG ratio of 2.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company’s 50 day moving average price is $97.54 and its 200 day moving average price is $96.85. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33.

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 analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts expect 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, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following 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 document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Medtronic Company 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).