Mirae Asset Global Investments Co. Ltd. Buys 41,339 Shares of Medtronic PLC $MDT

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 23.6% during the third quarter, Holdings Channel.com reports. The fund owned 216,460 shares of the medical technology company’s stock after acquiring an additional 41,339 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Medtronic were worth $20,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of 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 period. Ballentine Partners LLC lifted its stake in shares of Medtronic by 10.3% during the 3rd quarter. Ballentine Partners LLC now owns 15,273 shares of the medical technology company’s stock valued at $1,455,000 after buying an additional 1,427 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Medtronic by 4.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 21,854 shares of the medical technology company’s stock worth $2,081,000 after buying an additional 1,018 shares during the period. Truist Financial Corp boosted its holdings in Medtronic by 7.5% in the 3rd quarter. Truist Financial Corp now owns 2,409,915 shares of the medical technology company’s stock worth $229,520,000 after buying an additional 168,439 shares during the period. Finally, EPG Wealth Management LLC increased its stake in Medtronic by 3.5% in the 3rd quarter. EPG Wealth Management LLC now owns 6,909 shares of the medical technology company’s stock worth $658,000 after buying an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $100.99 on Friday. The company has a market cap of $129.46 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 2.66 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 stock’s 50 day simple moving average is $99.57 and its two-hundred day simple moving average is $95.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80.

Medtronic (NYSE:MDT) last posted 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 firm had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the firm posted $1.26 earnings per share. Medtronic’s revenue for the quarter was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

MDT has been the topic of several research analyst reports. Robert W. Baird set a $103.00 price objective on Medtronic in a research report on Tuesday, December 16th. Truist Financial decreased their target price on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. William Blair upgraded Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. CICC Research initiated coverage on shares of Medtronic in a report on Friday. They set an “outperform” rating for the company. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $110.00 target price on shares of Medtronic in a report on Wednesday, November 19th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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).