Harrell Investment Partners LLC Increases Position in Medtronic PLC $MDT

Harrell Investment Partners LLC lifted its position in shares of Medtronic PLC (NYSE:MDT) by 11.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,671 shares of the medical technology company’s stock after buying an additional 5,088 shares during the quarter. Medtronic makes up 1.1% of Harrell Investment Partners LLC’s holdings, making the stock its 29th largest holding. Harrell Investment Partners LLC’s holdings in Medtronic were worth $4,731,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Riverbend Wealth Management LLC raised its stake in Medtronic by 3.2% during the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 107 shares during the period. Wynn Capital LLC boosted its position in shares of Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after acquiring an additional 110 shares during the last quarter. Meridian Investment Counsel Inc. boosted its position in shares of Medtronic by 0.4% during the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after acquiring an additional 110 shares during the last quarter. Saxony Capital Management LLC grew its stake in Medtronic by 3.8% during the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock valued at $290,000 after acquiring an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in Medtronic by 3.2% in the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MDT. Truist Financial dropped their price objective on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Barclays raised their price target on Medtronic from $111.00 to $116.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Monday. Finally, Leerink Partners set a $120.00 target price on shares of Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $110.22.

Medtronic Trading Down 1.0%

Shares of MDT opened at $98.78 on Friday. The company’s fifty day simple moving average is $98.17 and its 200-day simple moving average is $94.37. The company has a market cap of $126.64 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.63 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 twelve month low of $79.55 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.31 by $0.05. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the firm posted $1.26 EPS. The firm’s revenue 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, analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, December 26th. Medtronic’s dividend 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).