New York State Teachers Retirement System Has $102.30 Million Position in Medtronic PLC $MDT

New York State Teachers Retirement System trimmed its stake in Medtronic PLC (NYSE:MDT) by 0.7% in the third quarter, HoldingsChannel reports. The firm owned 1,074,096 shares of the medical technology company’s stock after selling 7,826 shares during the period. New York State Teachers Retirement System’s holdings in Medtronic were worth $102,297,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the period. Jones Financial Companies Lllp boosted its holdings in Medtronic by 32.2% in the first quarter. Jones Financial Companies Lllp now owns 690,119 shares of the medical technology company’s stock worth $60,777,000 after acquiring an additional 168,092 shares in the last quarter. Modern Wealth Management LLC grew its stake in Medtronic by 25.5% in the first quarter. Modern Wealth Management LLC now owns 17,478 shares of the medical technology company’s stock valued at $1,571,000 after acquiring an additional 3,550 shares during the period. Hodges Capital Management Inc. grew its stake in Medtronic by 49.7% in the first quarter. Hodges Capital Management Inc. now owns 8,663 shares of the medical technology company’s stock valued at $778,000 after acquiring an additional 2,876 shares during the period. Finally, First Hawaiian Bank increased its holdings in shares of Medtronic by 12.1% during the first quarter. First Hawaiian Bank now owns 25,092 shares of the medical technology company’s stock valued at $2,255,000 after acquiring an additional 2,699 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 1.2%

NYSE:MDT opened at $97.54 on Friday. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The firm has a 50-day moving average price of $98.31 and a two-hundred day moving average price of $94.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The firm has a market cap of $125.04 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.71.

Medtronic (NYSE:MDT) last issued its quarterly 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. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the business posted $1.26 earnings per share. Medtronic’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 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is presently 76.55%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDT. Morgan Stanley increased their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Royal Bank Of Canada boosted their target price on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Cowen reiterated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.28.

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).