iA Global Asset Management Inc. Buys Shares of 60,494 Medtronic PLC $MDT

iA Global Asset Management Inc. purchased a new stake in Medtronic PLC (NYSE:MDT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,494 shares of the medical technology company’s stock, valued at approximately $5,811,000.

A number of other hedge funds have also modified their holdings of the company. Dana Investment Advisors Inc. raised its position in shares of Medtronic by 11.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 2,708 shares of the medical technology company’s stock valued at $260,000 after acquiring an additional 275 shares during the period. Hills Bank & Trust Co raised its position in shares of Medtronic by 47.3% in the 4th quarter. Hills Bank & Trust Co now owns 1,597 shares of the medical technology company’s stock valued at $153,000 after acquiring an additional 513 shares during the period. AlphaCore Capital LLC raised its position in shares of Medtronic by 121.8% in the 4th quarter. AlphaCore Capital LLC now owns 20,988 shares of the medical technology company’s stock valued at $2,016,000 after acquiring an additional 11,524 shares during the period. DNB Asset Management AS raised its position in shares of Medtronic by 1.0% in the 4th quarter. DNB Asset Management AS now owns 378,181 shares of the medical technology company’s stock valued at $36,328,000 after acquiring an additional 3,735 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Medtronic in the 4th quarter valued at approximately $70,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research reports. Barclays increased their target price on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Jefferies Financial Group reissued a “hold” rating and set a $95.00 target price on shares of Medtronic in a research note on Thursday, April 23rd. Daiwa Securities Group lowered their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. CICC Research initiated coverage on Medtronic in a research note on Friday, January 30th. They set an “outperform” rating for the company. Finally, Stifel Nicolaus lowered their target price on Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $107.80.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of MDT opened at $76.12 on Monday. The stock has a market capitalization of $97.73 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.81 and a beta of 0.62. Medtronic PLC has a twelve month low of $74.40 and a twelve month high of $106.33. The company has a 50 day moving average of $84.76 and a 200-day moving average of $93.63. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.57 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Medtronic 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).