Medtronic PLC $MDT Position Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,198 shares of the medical technology company’s stock after selling 6,918 shares during the period. State of Alaska Department of Revenue’s holdings in Medtronic were worth $16,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. 1248 Management LLC acquired a new stake in Medtronic in the first quarter worth about $26,000. Delos Wealth Advisors LLC bought a new stake in shares of Medtronic during the 2nd quarter worth about $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Medtronic in the 3rd quarter worth approximately $33,000. Tripletail Wealth Management LLC bought a new position in shares of Medtronic in the third quarter valued at approximately $34,000. Finally, GFG Capital LLC bought a new position in shares of Medtronic in the second quarter valued at approximately $36,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MDT. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Robert W. Baird set a $103.00 target price on Medtronic in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Finally, Cowen reiterated a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic Trading Down 1.0%

NYSE:MDT opened at $98.78 on Friday. The stock has a fifty day simple moving average of $98.17 and a 200 day simple moving average of $94.37. The firm has a market capitalization of $126.64 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 2.63 and a beta of 0.71. Medtronic PLC has a 1-year low of $79.55 and a 1-year 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.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the company posted $1.26 earnings per share. The business’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 forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

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).