Acadian Asset Management LLC Buys 763,707 Shares of Medtronic PLC $MDT

Acadian Asset Management LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 1,011.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 839,217 shares of the medical technology company’s stock after purchasing an additional 763,707 shares during the period. Acadian Asset Management LLC owned approximately 0.07% of Medtronic worth $73,144,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Boston Partners boosted its position in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after buying an additional 3,809,450 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Medtronic by 28.8% during the 1st 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 boosted its holdings in Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the period. Nuveen LLC bought a new position in Medtronic in the 1st quarter valued at $260,649,000. Finally, Mackenzie Financial Corp increased its stake in Medtronic by 220.9% in the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the period. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

MDT has been the topic of a number of research analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $98.00 target price on shares of Medtronic in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Wells Fargo & Company raised their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Truist Financial upped their target price on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $102.82.

Medtronic Stock Up 2.4%

Shares of MDT stock opened at $92.22 on Monday. The stock’s 50-day simple moving average is $94.20 and its 200-day simple moving average is $90.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a market capitalization of $118.29 billion, a PE ratio of 25.41, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping 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 company 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 firm earned $1.23 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

Insider Transactions at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is owned by corporate insiders.

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.