Bank Julius Baer & Co. Ltd Zurich Cuts Stake in Medtronic PLC $MDT

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in Medtronic PLC (NYSE:MDT) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 835,137 shares of the medical technology company’s stock after selling 51,060 shares during the quarter. Medtronic accounts for 1.2% of Bank Julius Baer & Co. Ltd Zurich’s investment portfolio, making the stock its 29th biggest position. Bank Julius Baer & Co. Ltd Zurich owned 0.07% of Medtronic worth $72,799,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Auxano Advisors LLC grew its stake in shares of Medtronic by 5.0% during the second quarter. Auxano Advisors LLC now owns 16,548 shares of the medical technology company’s stock valued at $1,442,000 after buying an additional 783 shares during the last quarter. Howe & Rusling Inc. purchased a new stake in Medtronic during the 2nd quarter valued at about $5,331,000. EFG Asset Management Americas Corp. grew its position in Medtronic by 5.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 24,877 shares of the medical technology company’s stock worth $2,169,000 after acquiring an additional 1,262 shares during the last quarter. Alteri Wealth LLC grew its position in Medtronic by 26.3% during the 2nd quarter. Alteri Wealth LLC now owns 10,188 shares of the medical technology company’s stock worth $888,000 after acquiring an additional 2,119 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in Medtronic by 2.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 151,093 shares of the medical technology company’s stock worth $13,406,000 after purchasing an additional 3,902 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on 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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.26% of the company’s stock.

Medtronic Trading Down 1.0%

Shares of MDT opened at $99.36 on Friday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $102.59. 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 firm’s 50-day moving average price is $94.90 and its 200-day moving average price is $90.76. The firm has a market capitalization of $127.45 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.42 and a beta of 0.77.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Sanford C. Bernstein set a $111.00 price target on shares of Medtronic in a research report on Wednesday. Truist Financial boosted their price objective on shares of Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a research report on Thursday. Royal Bank Of Canada increased their target price on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Cowen reissued a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.72.

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.