Oregon Public Employees Retirement Fund Increases Holdings in Medtronic PLC $MDT

Oregon Public Employees Retirement Fund grew its stake in Medtronic PLC (NYSE:MDT) by 7.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,862 shares of the medical technology company’s stock after acquiring an additional 11,167 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Medtronic were worth $12,350,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after purchasing an additional 1,888,381 shares during the last quarter. State Street Corp boosted its stake in Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after purchasing an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. grew its position in Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after purchasing an additional 1,419,730 shares during the last quarter. Capital Research Global Investors grew its position in Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after purchasing an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Medtronic by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after purchasing an additional 231,919 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Truist Financial cut their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Evercore set a $105.00 price objective on shares of Medtronic in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Medtronic Price Performance

MDT opened at $91.10 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The stock has a market capitalization of $116.62 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.43 and a beta of 0.55. The company’s 50-day simple moving average is $83.20 and its two-hundred day simple moving average is $86.36. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter last year, the firm posted $1.62 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts predict that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 26th. Medtronic’s dividend payout ratio is 77.21%.

Medtronic Company Profile

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).