AXQ Capital LP Purchases 2,013 Shares of Medtronic PLC $MDT

AXQ Capital LP lifted its holdings in Medtronic PLC (NYSE:MDT) by 25.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,890 shares of the medical technology company’s stock after purchasing an additional 2,013 shares during the period. AXQ Capital LP’s holdings in Medtronic were worth $862,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MDT. Gilbert & Cook Inc. grew its stake in shares of Medtronic by 1.9% in the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock worth $532,000 after acquiring an additional 114 shares during the last quarter. Red Spruce Capital LLC raised its stake in Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after purchasing an additional 118 shares during the last quarter. Certior Financial Group LLC boosted its holdings in Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after purchasing an additional 122 shares during the period. PrairieView Partners LLC grew its position in Medtronic by 3.6% in the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after purchasing an additional 128 shares during the last quarter. Finally, Motco increased its holdings in shares of Medtronic by 27.0% during the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock worth $57,000 after purchasing an additional 135 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.8%

Shares of MDT opened at $101.16 on Friday. 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 company has a market cap of $129.76 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.42 and a beta of 0.77. The stock has a fifty day moving average price of $95.04 and a two-hundred day moving average price of $90.94. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $102.59.

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

Insider Transactions at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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. The trade was a 19.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDT. Sanford C. Bernstein set a $111.00 target price on shares of Medtronic in a research note on Wednesday. Barclays raised their price objective on Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird boosted their price objective on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday. Cowen reaffirmed a “buy” rating on shares of Medtronic in a research report on Friday, November 14th. Finally, Stifel Nicolaus lifted their price target on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $109.72.

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.