Medtronic PLC $MDT Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its stake in Medtronic PLC (NYSE:MDT) by 0.6% in the second quarter, Holdings Channel reports. The fund owned 110,807 shares of the medical technology company’s stock after buying an additional 700 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Medtronic were worth $9,659,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in Medtronic during the 1st quarter valued at approximately $26,000. Columbia River Financial Group LLC bought a new position in Medtronic during the 1st quarter valued at $28,000. Twin Tree Management LP acquired a new position in Medtronic during the 1st quarter worth $29,000. Activest Wealth Management increased its position in shares of Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at about $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Medtronic Price Performance

Shares of MDT opened at $95.52 on Monday. The firm has a market capitalization of $122.52 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The stock’s fifty day moving average is $93.56 and its 200-day moving average is $88.74. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT) last released 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. The firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Royal Bank Of Canada restated an “outperform” rating and set a $111.00 price objective on shares of Medtronic in a research note on Friday. Sanford C. Bernstein increased their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. The Goldman Sachs Group lowered their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Finally, UBS Group raised their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.41.

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.