Arrowstreet Capital Limited Partnership Purchases 1,148,803 Shares of Medtronic PLC $MDT

Arrowstreet Capital Limited Partnership lifted its holdings in Medtronic PLC (NYSE:MDT) by 332.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,494,782 shares of the medical technology company’s stock after buying an additional 1,148,803 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.12% of Medtronic worth $130,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. 1248 Management LLC purchased a new stake in shares of Medtronic during the 1st quarter valued at $26,000. Twin Tree Management LP purchased a new position in shares of Medtronic in the 1st quarter worth about $29,000. Activest Wealth Management grew 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. GFG Capital LLC purchased a new stake in Medtronic during the second quarter worth about $36,000. Finally, True Wealth Design LLC raised its position in Medtronic by 49.8% in the second quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock worth $37,000 after acquiring an additional 140 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MDT. Citigroup upped their price objective on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Daiwa Capital Markets increased their price target on Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Cowen reissued a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Finally, Truist Financial upped their price objective on shares of Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $110.44.

Medtronic Stock Down 1.3%

Shares of NYSE MDT opened at $101.99 on Wednesday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $106.33. The business has a 50-day simple moving average of $96.37 and a two-hundred day simple moving average of $91.94. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $130.76 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.42 and a beta of 0.71.

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

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.