VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Medtronic PLC $MDT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 118,000 shares of the medical technology company’s stock, valued at approximately $10,286,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Medtronic by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after acquiring an additional 810,854 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after acquiring an additional 756,192 shares during the period. Deutsche Bank AG lifted its holdings in shares of Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after acquiring an additional 566,155 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after acquiring an additional 1,535,308 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were 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 of the company’s stock, 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 document filed with the SEC, which is available through this link. Also, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MDT. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Citigroup lifted their price objective on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Mizuho lifted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Finally, Daiwa Capital Markets lifted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Medtronic Stock Up 0.2%

Shares of NYSE:MDT opened at $95.97 on Tuesday. The firm has a market cap of $123.10 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The company has a fifty day simple moving average of $94.13 and a 200 day simple moving average of $89.08. 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.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s payout ratio is currently 78.24%.

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.