Medtronic PLC $MDT Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in Medtronic PLC (NYSE:MDT) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,775,424 shares of the medical technology company’s stock after acquiring an additional 13,799 shares during the quarter. Russell Investments Group Ltd.’s holdings in Medtronic were worth $154,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Boston Partners increased its stake in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after buying an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after purchasing an additional 3,017,849 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Medtronic during the first quarter worth approximately $260,649,000. Finally, Vanguard Group Inc. raised its stake in Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’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 value of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MDT shares. Leerink Partners set a $120.00 target price on shares of Medtronic and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Truist Financial upped their price objective on shares of Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Sanford C. Bernstein set a $111.00 price target on Medtronic in a research report on Wednesday, November 19th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $109.72.

Medtronic Stock Up 2.1%

Shares of NYSE MDT opened at $105.32 on Wednesday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $105.60. The company has a market capitalization of $135.09 billion, a P/E ratio of 29.01, a P/E/G ratio of 2.42 and a beta of 0.77. The company has a 50 day simple moving average of $95.46 and a 200-day simple moving average of $91.29. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

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.