Envestnet Portfolio Solutions Inc. Sells 27,389 Shares of Medtronic PLC $MDT

Envestnet Portfolio Solutions Inc. lessened its stake in Medtronic PLC (NYSE:MDT) by 16.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 142,796 shares of the medical technology company’s stock after selling 27,389 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Medtronic were worth $13,600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Riverbend Wealth Management LLC boosted its position in Medtronic by 3.2% during the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after acquiring an additional 107 shares during the last quarter. Wynn Capital LLC increased its holdings in shares of Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after acquiring an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. lifted its holdings in shares of Medtronic by 0.4% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after purchasing an additional 110 shares in the last quarter. Saxony Capital Management LLC raised its holdings in Medtronic by 3.8% during the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after buying an additional 112 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its position in shares of Medtronic by 3.2% during the second quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after acquiring an additional 113 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.4%

Medtronic stock opened at $100.98 on Friday. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The stock has a market cap of $129.45 billion, a P/E ratio of 27.22, a PEG ratio of 2.67 and a beta of 0.71. The firm’s fifty day moving average price is $99.44 and its 200-day moving average price is $95.23.

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

Medtronic Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Jefferies Financial Group reissued a “hold” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, November 19th. UBS Group increased their price objective on shares of Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Barclays lifted their target price on Medtronic from $111.00 to $116.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.28.

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).