Medtronic PLC $MDT Position Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in Medtronic PLC (NYSE:MDT) by 0.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,596,075 shares of the medical technology company’s stock after selling 10,200 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of Medtronic worth $139,130,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MDT. West Family Investments Inc. lifted its holdings in Medtronic by 43.9% in the second quarter. West Family Investments Inc. now owns 5,772 shares of the medical technology company’s stock worth $503,000 after acquiring an additional 1,762 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Medtronic by 21.5% during the 2nd quarter. Schroder Investment Management Group now owns 4,222,638 shares of the medical technology company’s stock worth $368,087,000 after purchasing an additional 747,244 shares during the period. Norges Bank bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $1,432,698,000. Level Four Advisory Services LLC boosted its position in Medtronic by 2.6% during the 2nd quarter. Level Four Advisory Services LLC now owns 42,526 shares of the medical technology company’s stock valued at $3,707,000 after purchasing an additional 1,074 shares during the period. Finally, Bank of Nova Scotia Trust Co. grew its stake in Medtronic by 0.9% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 111,420 shares of the medical technology company’s stock worth $9,712,000 after buying an additional 956 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Sanford C. Bernstein set a $111.00 price objective on shares of Medtronic in a research report on Wednesday, November 19th. Truist Financial boosted their target price on shares of Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Stifel Nicolaus raised their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.72.

Medtronic Price Performance

NYSE MDT opened at $104.53 on Friday. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $106.33. The firm has a market capitalization of $134.07 billion, a PE ratio of 28.79, a P/E/G ratio of 2.42 and a beta of 0.77. The company’s 50 day simple moving average is $96.06 and its 200 day simple moving average is $91.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

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.