Medtronic PLC $MDT Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,208 shares of the medical technology company’s stock after selling 343 shares during the period. Retirement Systems of Alabama’s holdings in Medtronic were worth $23,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Red Spruce Capital LLC increased its holdings in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after buying an additional 118 shares during the last quarter. Certior Financial Group LLC increased its holdings in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after buying an additional 122 shares during the last quarter. PrairieView Partners LLC increased its holdings in shares of Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after buying an additional 128 shares during the last quarter. Motco increased its holdings in shares of Medtronic by 27.0% during the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock worth $57,000 after buying an additional 135 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Medtronic by 3.1% during the 1st quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company’s stock worth $410,000 after buying an additional 136 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 0.2%

Shares of Medtronic stock opened at $90.82 on Friday. The business has a 50-day moving average of $94.35 and a 200-day moving average of $89.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market capitalization of $116.49 billion, a PE ratio of 25.02, a P/E/G ratio of 2.42 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37.

Medtronic (NYSE:MDT) last announced its 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 the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Insider Activity

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the stock in a transaction dated Monday, August 25th. The stock was bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Argus upped their price objective on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Morgan Stanley reissued an “overweight” rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $98.00 target price on shares of Medtronic in a research note on Friday. Truist Financial increased their target price on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Finally, Stifel Nicolaus increased their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Company Profile

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.