Credit Agricole S A Has $32.45 Million Stock Position in Medtronic PLC $MDT

Credit Agricole S A lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 5.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 361,105 shares of the medical technology company’s stock after buying an additional 19,453 shares during the period. Credit Agricole S A’s holdings in Medtronic were worth $32,449,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MDT. Boston Partners increased its holdings in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares in the last quarter. Nuveen LLC acquired a new position in Medtronic in the 1st quarter worth about $260,649,000. Burgundy Asset Management Ltd. acquired a new position in Medtronic in the 4th quarter worth about $174,329,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Medtronic in the 4th quarter worth about $139,869,000. Finally, Mackenzie Financial Corp increased its holdings in Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 3.1%

Shares of MDT stock opened at $89.9160 on Wednesday. The stock has a market cap of $115.26 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.41 and a beta of 0.80. The stock has a 50-day moving average of $89.47 and a 200-day moving average of $87.98. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. Medtronic’s dividend payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. Mizuho upped their target price on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Evercore ISI upped their target price on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 target price (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Citigroup upped their target price on Medtronic from $98.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, William Blair raised Medtronic to a “hold” rating in a report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.19.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.