Oak Harvest Investment Services Purchases New Shares in Medtronic PLC $MDT

Oak Harvest Investment Services purchased a new position in shares of Medtronic PLC (NYSE:MDT) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 73,839 shares of the medical technology company’s stock, valued at approximately $7,032,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $26,000. Delos Wealth Advisors LLC bought a new position in Medtronic in the 2nd quarter worth approximately $27,000. Twin Tree Management LP acquired a new position in Medtronic during the 1st quarter worth $29,000. GFG Capital LLC bought a new position in Medtronic in the 2nd quarter valued at $36,000. Finally, True Wealth Design LLC increased its stake in shares of Medtronic by 49.8% in the 2nd quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock valued at $37,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Cowen reiterated a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Daiwa Capital Markets lifted their price target on shares of Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Medtronic in a research note on Monday, December 15th. Stifel Nicolaus raised their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, Morgan Stanley upped their target price on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $109.94.

Medtronic Trading Down 0.5%

MDT opened at $96.05 on Tuesday. The stock has a market capitalization of $123.13 billion, a P/E ratio of 25.89, a P/E/G ratio of 2.54 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $106.33. The firm’s fifty day simple moving average is $97.54 and its 200 day simple moving average is $93.86.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s payout ratio is presently 76.55%.

Medtronic Company 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).