Genesis Financial Group LLC Acquires New Shares in Medtronic PLC $MDT

Genesis Financial Group LLC acquired a new position in Medtronic PLC (NYSE:MDT) in the 4th quarter, Holdings Channel reports. The firm acquired 48,805 shares of the medical technology company’s stock, valued at approximately $4,688,000. Medtronic comprises 2.7% of Genesis Financial Group LLC’s investment portfolio, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. State Street Corp lifted its stake in shares of Medtronic by 1.0% in the 3rd quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock valued at $5,800,550,000 after purchasing an additional 625,992 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Medtronic by 0.9% during 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 purchasing an additional 192,410 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Medtronic by 0.5% during 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 purchasing an additional 98,220 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Medtronic by 3.0% in the 3rd quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock valued at $1,067,055,000 after buying an additional 327,899 shares during the period. Finally, Wellington Management Group LLP lifted its position in Medtronic by 35.3% in the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after buying an additional 2,658,981 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 0.6%

Shares of MDT opened at $86.61 on Friday. The stock has a market capitalization of $111.19 billion, a PE ratio of 24.12, a P/E/G ratio of 2.22 and a beta of 0.75. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. 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 simple moving average is $94.76 and its 200-day simple moving average is $96.27.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Stockholders 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 dividend yield of 3.3%. Medtronic’s dividend payout ratio is currently 79.11%.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Leerink Partners reiterated an “outperform” rating and issued a $119.00 target price on shares of Medtronic in a report on Tuesday, March 10th. Finally, Truist Financial cut their target price on Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday, February 18th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.85.

Insider Activity

In related news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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).