Medtronic PLC $MDT Shares Sold by Allianz SE

Allianz SE reduced its holdings in Medtronic PLC (NYSE:MDT) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,713 shares of the medical technology company’s stock after selling 2,403 shares during the quarter. Allianz SE’s holdings in Medtronic were worth $6,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. 1248 Management LLC acquired a new position in shares of Medtronic during the 1st quarter valued at $26,000. Twin Tree Management LP purchased a new position in Medtronic during the 1st quarter worth approximately $29,000. Activest Wealth Management raised its position in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. Investment Management Corp VA ADV lifted its position in shares of Medtronic by 144.2% in the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 238 shares in the last quarter. Finally, GFG Capital LLC purchased a new position in shares of Medtronic during the 2nd quarter valued at $36,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred 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 directly owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction that occurred 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 acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is owned by company insiders.

Medtronic Stock Up 0.4%

NYSE:MDT opened at $95.79 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a market cap of $122.86 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.42 and a beta of 0.77. The stock has a 50-day moving average price of $94.31 and a two-hundred day moving average price of $90.22. Medtronic PLC has a 1 year low of $79.29 and a 1 year 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, beating analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Mizuho increased their price objective on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted 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 cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Finally, Truist Financial upped their price target on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

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.