NewEdge Wealth LLC Has $3.42 Million Stake in Medtronic PLC $MDT

NewEdge Wealth LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 58.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,559 shares of the medical technology company’s stock after purchasing an additional 13,102 shares during the period. NewEdge Wealth LLC’s holdings in Medtronic were worth $3,416,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after purchasing an additional 1,888,381 shares in the last quarter. State Street Corp lifted its position in shares of Medtronic by 1.0% during the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after purchasing an additional 625,992 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Medtronic by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after purchasing an additional 192,410 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after purchasing an additional 98,220 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Medtronic by 3.0% during the third quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock worth $1,067,055,000 after purchasing an additional 327,899 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the company’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 value of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Trading Down 2.1%

MDT opened at $74.56 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The company has a market cap of $95.73 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62. The firm has a 50 day simple moving average of $86.40 and a 200 day simple moving average of $94.14. Medtronic PLC has a fifty-two week low of $74.40 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. Medtronic’s revenue for the quarter was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. Daiwa Securities Group dropped their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. UBS Group dropped their price target on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Leerink Partners reissued an “outperform” rating and set a $119.00 price target on shares of Medtronic in a research note on Tuesday, March 10th. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Finally, Evercore set a $106.00 price target on shares of Medtronic and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.80.

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).