Public Employees Retirement System of Ohio Purchases New Shares in Medtronic PLC $MDT

Public Employees Retirement System of Ohio purchased a new position in Medtronic PLC (NYSE:MDT) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 555,013 shares of the medical technology company’s stock, valued at approximately $43,419,000.

Other hedge funds also recently bought and sold shares of the company. Anfield Capital Management LLC lifted its holdings in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Monetary Solutions Ltd purchased a new position in shares of Medtronic during the fourth quarter valued at $27,000. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $29,000. IAG Wealth Partners LLC acquired a new position in Medtronic during the second quarter valued at $30,000. Finally, Imprint Wealth LLC acquired a new position in Medtronic during the third quarter valued at $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Needham raised its price target to $114 from $101 and reiterated a Buy rating, implying substantial upside from recent trading levels. The firm expects Medtronic to beat first-quarter estimates and raise its fiscal 2027 guidance, potentially providing a near-term catalyst. Medtronic price target raised by Needham
• Positive Sentiment: Analysts expect continued growth across Medtronic’s Cardiovascular, Neuroscience and Diabetes businesses. Cardiovascular performance and expanding renal-denervation activity are highlighted as important growth opportunities. Medtronic Q1 estimates and guidance
• Positive Sentiment: Medtronic reaffirmed its dividend trajectory, approving a $0.72-per-share fiscal 2027 second-quarter dividend. The ongoing dividend supports the stock’s appeal to income-oriented investors. Medtronic dividend update
• Positive Sentiment: Recent coverage points to strengthening device momentum and a potential rebound, while Medtronic remains viewed as a relatively inexpensive, diversified alternative to faster-growing surgical-robotics companies. Medtronic device momentum

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction 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 $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

Medtronic Stock Down 2.2%

MDT stock opened at $90.04 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a fifty day simple moving average of $85.34 and a 200 day simple moving average of $85.63. The firm has a market cap of $115.24 billion, a PE ratio of 24.14, a PEG ratio of 2.47 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.62 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, September 25th. Medtronic’s payout ratio is 77.21%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDT. Stifel Nicolaus set a $80.00 target price on Medtronic in a report on Wednesday, June 3rd. Evercore set a $105.00 price objective on shares of Medtronic in a research note on Monday, July 6th. The Goldman Sachs Group cut their target price on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Finally, Mizuho dropped their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.38.

Medtronic 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).