Alberta Investment Management Corp Invests $3.45 Million in Medtronic PLC $MDT

Alberta Investment Management Corp acquired a new position in Medtronic PLC (NYSE:MDT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 39,600 shares of the medical technology company’s stock, valued at approximately $3,452,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Medtronic during the 1st quarter worth $26,000. Twin Tree Management LP acquired a new stake in Medtronic in the first quarter worth about $29,000. Activest Wealth Management grew its stake in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares during the last quarter. Investment Management Corp VA ADV grew its stake in shares of Medtronic by 144.2% during the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 238 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in shares of Medtronic during the second quarter valued at about $36,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.2%

NYSE:MDT opened at $95.92 on Monday. The company has a market capitalization of $123.04 billion, a PE ratio of 26.42, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The stock’s 50 day moving average price is $94.43 and its 200 day moving average price is $90.43. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

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

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research reports. Citigroup lifted their price target on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company lifted their target price on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Cowen reiterated a “buy” rating on shares of Medtronic in a research report on Friday. UBS Group increased their price target on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Finally, Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.06.

Insider Activity

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated 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 directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.26% of the company’s stock.

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.