PGGM Investments Cuts Position in Medtronic PLC $MDT

PGGM Investments decreased its position in Medtronic PLC (NYSE:MDT) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,191,228 shares of the medical technology company’s stock after selling 57,366 shares during the quarter. Medtronic accounts for 1.8% of PGGM Investments’ portfolio, making the stock its 19th biggest holding. PGGM Investments owned approximately 0.09% of Medtronic worth $113,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverbend Wealth Management LLC raised its stake in Medtronic by 3.2% during the third 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 in the last quarter. Wynn Capital LLC grew its stake in shares of Medtronic by 2.4% in the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after buying an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. increased its holdings in shares of Medtronic by 0.4% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after buying an additional 110 shares during the last quarter. Saxony Capital Management LLC raised its position in shares of Medtronic by 3.8% during the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock valued at $290,000 after buying an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of 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. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

MDT opened at $98.88 on Friday. The business has a fifty day moving average of $98.90 and a 200 day moving average of $94.77. The stock has a market cap of $126.77 billion, a P/E ratio of 26.65, a PEG ratio of 2.60 and a beta of 0.71. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.05. The business 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 business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s payout ratio is 76.55%.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Barclays boosted their target price on Medtronic from $111.00 to $116.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Leerink Partners set a $120.00 price objective on shares of Medtronic and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.28.

About Medtronic

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).