Neo Ivy Capital Management Acquires Shares of 8,251 Medtronic PLC $MDT

Neo Ivy Capital Management bought a new position in Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,251 shares of the medical technology company’s stock, valued at approximately $719,000.

A number of other institutional investors have also modified their holdings of the stock. Boston Partners raised its holdings in shares of Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after purchasing an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after buying an additional 3,017,849 shares during the period. Nuveen LLC purchased a new position in Medtronic during the first quarter valued at approximately $260,649,000. Finally, Vanguard Group Inc. raised its stake in Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after buying an additional 1,895,165 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction that occurred on 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 directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Argus upped their price objective on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Stifel Nicolaus boosted their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Citigroup lifted their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.72.

Medtronic Stock Performance

Shares of MDT stock opened at $101.16 on Friday. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $102.59. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The stock has a market cap of $129.76 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The business has a 50-day simple moving average of $95.04 and a 200-day simple moving average of $90.88.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the company earned $1.26 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Profile

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.