Louisiana State Employees Retirement System Sells 1,300 Shares of Medtronic PLC $MDT

Louisiana State Employees Retirement System lowered its position in Medtronic PLC (NYSE:MDT) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,700 shares of the medical technology company’s stock after selling 1,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Medtronic were worth $5,901,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. WestEnd Advisors LLC raised its position in shares of Medtronic by 2.1% in the 2nd quarter. WestEnd Advisors LLC now owns 473,307 shares of the medical technology company’s stock worth $41,258,000 after acquiring an additional 9,796 shares in the last quarter. Godsey & Gibb Inc. raised its position in shares of Medtronic by 1.7% in the 2nd quarter. Godsey & Gibb Inc. now owns 244,536 shares of the medical technology company’s stock worth $21,316,000 after acquiring an additional 4,085 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in shares of Medtronic by 3.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 506,587 shares of the medical technology company’s stock worth $44,517,000 after acquiring an additional 17,300 shares in the last quarter. Seamount Financial Group Inc. bought a new position in shares of Medtronic in the 2nd quarter worth approximately $362,000. Finally, Bennett Associates Wealth Management bought a new position in shares of Medtronic in the 2nd quarter worth approximately $295,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDT. UBS Group increased their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Evercore ISI raised their price objective on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Sanford C. Bernstein raised their price objective on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Finally, Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.63.

Medtronic Stock Performance

Shares of MDT opened at $97.88 on Thursday. The business’s fifty day simple moving average is $93.31 and its two-hundred day simple moving average is $88.65. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The company has a market cap of $125.55 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.59 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the business posted $1.23 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Insiders Place Their Bets

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.