The Manufacturers Life Insurance Company Increases Stock Holdings in Medtronic PLC $MDT

The Manufacturers Life Insurance Company lifted its position in shares of Medtronic PLC (NYSE:MDT) by 7.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,155,810 shares of the medical technology company’s stock after buying an additional 445,174 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.48% of Medtronic worth $536,598,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MDT. 1248 Management LLC acquired a new position in Medtronic during the first quarter worth about $26,000. Twin Tree Management LP acquired a new stake in shares of Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management increased its stake in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares in the last quarter. GFG Capital LLC acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $36,000. Finally, True Wealth Design LLC raised its position in shares of Medtronic by 49.8% during the 2nd quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock worth $37,000 after purchasing an additional 140 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MDT shares. Jefferies Financial Group reiterated a “hold” rating and set a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Royal Bank Of Canada boosted their price target on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Truist Financial raised their price objective on Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. Finally, Robert W. Baird upped their target price on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.44.

Medtronic Trading Up 1.2%

Shares of MDT opened at $100.82 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $129.25 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 2.62 and a beta of 0.71. The stock’s fifty day simple moving average is $97.14 and its 200 day simple moving average is $92.61. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $106.33.

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

Medtronic Dividend Announcement

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

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.