M&G PLC Purchases 554,582 Shares of Medtronic PLC $MDT

M&G PLC lifted its position in shares of Medtronic PLC (NYSE:MDT) by 22.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,072,469 shares of the medical technology company’s stock after acquiring an additional 554,582 shares during the quarter. Medtronic makes up about 1.5% of M&G PLC’s investment portfolio, making the stock its 15th largest position. M&G PLC’s holdings in Medtronic were worth $267,305,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Medtronic during the 1st quarter worth about $26,000. Twin Tree Management LP bought a new position in shares of Medtronic in the 1st quarter valued at about $29,000. Activest Wealth Management lifted its holdings in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Investment Management Corp VA ADV boosted its stake in Medtronic by 144.2% in the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 238 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in Medtronic during the 2nd quarter worth $36,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. UBS Group raised their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Trading Up 2.9%

NYSE:MDT opened at $95.32 on Wednesday. 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 business’s 50-day simple moving average is $94.24 and its 200-day simple moving average is $90.18. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The stock has a market capitalization of $122.27 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the business earned $1.23 EPS. Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.26% of the company’s stock.

About Medtronic

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.