Victory Capital Management Inc. Sells 354,230 Shares of Medtronic PLC $MDT

Victory Capital Management Inc. lessened its position in shares of Medtronic PLC (NYSE:MDT) by 17.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,629,455 shares of the medical technology company’s stock after selling 354,230 shares during the quarter. Victory Capital Management Inc.’s holdings in Medtronic were worth $155,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Corundum Trust Company INC bought a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Valley Wealth Managers Inc. purchased a new stake in Medtronic during the third quarter valued at approximately $29,000. Delos Wealth Advisors LLC bought a new position in Medtronic in the second quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Medtronic during the 3rd quarter worth $33,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Medtronic in the 3rd quarter worth $34,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

MDT stock opened at $96.71 on Wednesday. The firm has a market capitalization of $124.16 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.46 and a beta of 0.71. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $98.92 and a two-hundred day simple moving average of $96.99.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio is presently 79.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Leerink Partners lowered their target price on Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. TD Cowen reiterated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Sunday. Royal Bank Of Canada lifted 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. Finally, The Goldman Sachs Group set a $111.00 price objective on shares of Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $110.74.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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).