NorthCrest Asset Manangement LLC Grows Stake in Medtronic PLC $MDT

NorthCrest Asset Manangement LLC grew its holdings in Medtronic PLC (NYSE:MDT) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,694 shares of the medical technology company’s stock after purchasing an additional 6,573 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Medtronic were worth $10,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Corundum Trust Company INC purchased a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Delos Wealth Advisors LLC purchased a new position in shares of Medtronic during the second quarter worth $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Medtronic during the third quarter valued at $33,000. Tripletail Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at about $34,000. Finally, Clean Yield Group raised its position in shares of Medtronic by 265.7% in the third quarter. Clean Yield Group now owns 384 shares of the medical technology company’s stock worth $37,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research report on Monday, December 29th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Cowen reiterated a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Finally, Wells Fargo & Company increased their target price on shares of Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Price Performance

MDT stock opened at $96.82 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The stock’s 50 day moving average price is $98.99 and its 200 day moving average price is $94.93. The firm has a market cap of $124.12 billion, a P/E ratio of 26.10, a PEG ratio of 2.55 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its 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 return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the prior year, the business posted $1.26 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is 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).