California Public Employees Retirement System Buys 1,870,495 Shares of Medtronic PLC $MDT

California Public Employees Retirement System lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 57.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,101,347 shares of the medical technology company’s stock after acquiring an additional 1,870,495 shares during the period. California Public Employees Retirement System’s holdings in Medtronic were worth $485,852,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its stake in Medtronic by 2.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after purchasing an additional 31,314 shares during the last quarter. AXQ Capital LP increased its position in shares of Medtronic by 25.6% during the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock valued at $862,000 after purchasing an additional 2,013 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Medtronic by 65.8% during the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after buying an additional 54,898 shares in the last quarter. Applied Finance Capital Management LLC bought a new stake in Medtronic in the 3rd quarter worth approximately $1,308,000. Finally, Willis Investment Counsel lifted its position in Medtronic by 5.0% in the 3rd quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock worth $38,274,000 after buying an additional 19,192 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Medtronic stock opened at $87.05 on Friday. 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 cap of $111.77 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.23 and a beta of 0.71. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The firm has a 50-day moving average of $97.96 and a 200-day moving average of $96.87.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.3%. Medtronic’s payout ratio is 79.11%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. Royal Bank Of Canada increased their price target on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Wells Fargo & Company assumed coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective for the company. Truist Financial reduced their target price on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. Leerink Partners reiterated an “outperform” rating and issued a $119.00 target price on shares of Medtronic in a research report on Tuesday. Finally, CICC Research started coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.74.

About Medtronic

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).