Townsquare Capital LLC Lowers Stake in Medtronic PLC $MDT

Townsquare Capital LLC lessened its stake in Medtronic PLC (NYSE:MDT) by 38.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,661 shares of the medical technology company’s stock after selling 12,273 shares during the period. Townsquare Capital LLC’s holdings in Medtronic were worth $1,873,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MDT. Riverbend Wealth Management LLC raised its stake in shares of 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 acquiring an additional 107 shares in the last quarter. Wynn Capital LLC raised its position in Medtronic by 2.4% during the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after purchasing an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. lifted 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 period. Saxony Capital Management LLC grew 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 worth $290,000 after buying an additional 112 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its stake in shares of Medtronic by 3.2% during the second quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after buying an additional 113 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Royal Bank Of Canada boosted their price target on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. CICC Research assumed coverage on shares of Medtronic in a research note on Friday. They set an “outperform” rating on the stock. Jefferies Financial Group reissued a “hold” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, November 19th. Finally, TD Cowen reissued a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Stock Up 0.2%

Medtronic stock opened at $100.99 on Friday. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The business has a fifty day moving average price of $99.57 and a 200-day moving average price of $95.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The stock has a market capitalization of $129.46 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 2.66 and a beta of 0.71.

Medtronic (NYSE:MDT) last issued its quarterly 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. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. 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).