Employees Retirement System of Texas Has $84.88 Million Stake in Medtronic PLC $MDT

Employees Retirement System of Texas raised its holdings in Medtronic PLC (NYSE:MDT) by 1,117.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 891,232 shares of the medical technology company’s stock after purchasing an additional 818,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Medtronic were worth $84,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverbend Wealth Management LLC increased its stake in shares of Medtronic by 3.2% in the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after buying an additional 107 shares in the last quarter. Holistic Financial Partners lifted its position in Medtronic by 3.0% during the 3rd quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock worth $352,000 after buying an additional 109 shares in the last quarter. Wynn Capital LLC grew its holdings in Medtronic by 2.4% during the 3rd quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after acquiring an additional 110 shares during the last quarter. Meridian Investment Counsel Inc. grew its holdings in Medtronic by 0.4% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock worth $2,692,000 after acquiring an additional 110 shares during the last quarter. Finally, Saxony Capital Management LLC grew its holdings in 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 last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction 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 transaction, the executive vice president owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Down 1.7%

Shares of NYSE MDT opened at $87.50 on Friday. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The firm’s 50-day moving average is $98.14 and its 200-day moving average is $96.87. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $112.34 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. Medtronic’s revenue for the quarter was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. Medtronic’s payout ratio is presently 79.11%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Medtronic in a research note on Tuesday. Robert W. Baird lowered their price target on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.74.

Medtronic 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).