Advisors Asset Management Inc. Has $15.62 Million Stock Holdings in Medtronic PLC $MDT

Advisors Asset Management Inc. lifted its holdings in Medtronic PLC (NYSE:MDT) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 173,818 shares of the medical technology company’s stock after buying an additional 6,840 shares during the period. Advisors Asset Management Inc.’s holdings in Medtronic were worth $15,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners increased its stake in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after acquiring an additional 3,017,849 shares in the last quarter. Nuveen LLC bought a new position in Medtronic during the first quarter valued at $260,649,000. Finally, Burgundy Asset Management Ltd. bought a new position in shares of Medtronic during the 4th quarter valued at approximately $174,329,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 0.5%

Shares of NYSE:MDT opened at $93.23 on Wednesday. The stock has a market cap of $119.59 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 2.36 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.42. The company has a 50 day moving average of $90.59 and a 200-day moving average of $88.06. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MDT. Truist Financial boosted their price target on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Sanford C. Bernstein increased their price objective on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Argus raised their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.14.

Insider Activity

In other news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.