Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Medtronic PLC $MDT

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Medtronic PLC (NYSE:MDT) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 175,121 shares of the medical technology company’s stock after buying an additional 18,936 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Medtronic were worth $15,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Brighton Jones LLC lifted its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Medtronic by 128.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 8,013 shares of the medical technology company’s stock valued at $720,000 after buying an additional 4,507 shares during the period. SeaCrest Wealth Management LLC lifted its position in Medtronic by 3.2% during the first quarter. SeaCrest Wealth Management LLC now owns 8,225 shares of the medical technology company’s stock valued at $739,000 after buying an additional 258 shares during the period. Pitti Group Wealth Management LLC raised its position in shares of Medtronic by 3.5% in the 1st quarter. Pitti Group Wealth Management LLC now owns 8,921 shares of the medical technology company’s stock worth $802,000 after purchasing an additional 302 shares during the last quarter. Finally, Pines Wealth Management LLC raised its position in shares of Medtronic by 65.4% in the 1st quarter. Pines Wealth Management LLC now owns 6,363 shares of the medical technology company’s stock worth $521,000 after purchasing an additional 2,515 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. William Blair raised Medtronic to a “hold” rating in a research report on Friday, July 11th. The Goldman Sachs Group lowered their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday. Mizuho lifted their price target on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, Argus lifted their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $100.94.

Medtronic Price Performance

Shares of NYSE:MDT opened at $97.63 on Friday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $97.94. The business has a 50-day simple moving average of $92.94 and a two-hundred day simple moving average of $88.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a market cap of $125.23 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. Medtronic’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, analysts expect 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. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is presently 78.24%.

About Medtronic

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.