Teacher Retirement System of Texas Sells 26,057 Shares of Medtronic PLC $MDT

Teacher Retirement System of Texas lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 492,943 shares of the medical technology company’s stock after selling 26,057 shares during the period. Teacher Retirement System of Texas’ holdings in Medtronic were worth $46,948,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MDT. Riverbend Wealth Management LLC increased its stake in shares of Medtronic by 3.2% during the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock worth $332,000 after purchasing an additional 107 shares during the last quarter. Wynn Capital LLC raised its stake in Medtronic by 2.4% in the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after buying an additional 110 shares during the period. Meridian Investment Counsel Inc. lifted its position in shares of Medtronic by 0.4% in the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after buying an additional 110 shares during the last quarter. Saxony Capital Management LLC boosted its stake 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 acquiring an additional 112 shares during the period. Finally, Cape Investment Advisory Inc. increased its holdings in shares of Medtronic by 3.2% during the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after acquiring an additional 113 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MDT shares. Royal Bank Of Canada lifted their price objective on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Sanford C. Bernstein raised their price objective on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Leerink Partners set a $120.00 target price on Medtronic and gave the company an “outperform” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Daiwa Capital Markets boosted their price target on Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Fourteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Stock Performance

Shares of MDT stock opened at $101.45 on Friday. The firm has a market capitalization of $130.06 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 2.64 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $99.34 and its 200-day moving average price is $95.14. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.Medtronic’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. 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 year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is currently 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).