Rhumbline Advisers Sells 39,315 Shares of Medtronic PLC $MDT

Rhumbline Advisers lowered its stake in Medtronic PLC (NYSE:MDT) by 1.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,362,292 shares of the medical technology company’s stock after selling 39,315 shares during the period. Rhumbline Advisers owned approximately 0.18% of Medtronic worth $205,921,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC raised its position in shares of Medtronic by 5.6% in the second quarter. AlphaCore Capital LLC now owns 6,165 shares of the medical technology company’s stock valued at $535,000 after buying an additional 326 shares in the last quarter. Mufg Securities Americas Inc. grew its position in Medtronic by 25.2% in the second quarter. Mufg Securities Americas Inc. now owns 28,425 shares of the medical technology company’s stock valued at $2,478,000 after acquiring an additional 5,727 shares during the last quarter. Sfmg LLC increased its position in Medtronic by 1.9% during the 2nd quarter. Sfmg LLC now owns 49,464 shares of the medical technology company’s stock worth $4,312,000 after purchasing an additional 927 shares in the last quarter. AXQ Capital LP increased its holdings in shares of Medtronic by 25.6% during the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after buying an additional 2,013 shares in the last quarter. Finally, Journey Strategic Wealth LLC raised its position in Medtronic by 274.5% in the second quarter. Journey Strategic Wealth LLC now owns 8,635 shares of the medical technology company’s stock valued at $753,000 after purchasing an additional 6,329 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The SEC filing for this sale provides additional information. 0.26% of the stock is currently owned by insiders.

Medtronic Trading Up 1.8%

Shares of MDT opened at $101.16 on Friday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $102.59. 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 $129.76 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.42 and a beta of 0.77. The firm’s 50 day simple moving average is $95.04 and its 200 day simple moving average is $90.88.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Medtronic’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on MDT. Morgan Stanley lifted their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup raised their price target on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Robert W. Baird boosted their price objective on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday. Daiwa Capital Markets upped their target price on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Sanford C. Bernstein set a $111.00 price objective on Medtronic in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $109.72.

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.