Medtronic PLC $MDT Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in Medtronic PLC (NYSE:MDT) by 32.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,990 shares of the medical technology company’s stock after selling 218,115 shares during the period. Primecap Management Co. CA’s holdings in Medtronic were worth $39,138,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MDT. Vanguard Group Inc. lifted its holdings in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after buying an additional 1,895,165 shares during the period. Geode Capital Management LLC raised its stake in shares of Medtronic by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after buying an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp raised its position in Medtronic by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after acquiring an additional 595,549 shares during the last quarter. Deutsche Bank AG lifted its stake in Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after buying an additional 566,155 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Medtronic by 9.9% during the first quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after acquiring an additional 1,535,308 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.7%

NYSE MDT opened at $100.12 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a one year low of $79.29 and a one year high of $102.59. The company has a 50-day simple moving average of $94.80 and a 200-day simple moving average of $90.70. The firm has a market capitalization of $128.42 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The company 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 14.61% and a net margin of 13.63%.Medtronic’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Argus raised their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. UBS Group boosted their price objective on shares of Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a research note on Wednesday. Royal Bank Of Canada raised their target price on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $108.50.

Insiders Place Their Bets

In other news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the executive vice president directly owned 35,615 shares in the company, 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. Company 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.