AustralianSuper Pty Ltd Purchases New Stake in Medtronic PLC $MDT

AustralianSuper Pty Ltd acquired a new position in Medtronic PLC (NYSE:MDT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 163,356 shares of the medical technology company’s stock, valued at approximately $15,558,000.

Several other hedge funds also recently modified their holdings of MDT. Riverbend Wealth Management LLC increased its holdings in Medtronic by 3.2% during the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 107 shares in the last quarter. Holistic Financial Partners raised its stake in shares of Medtronic by 3.0% in the 3rd quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock valued at $352,000 after purchasing an additional 109 shares during the period. Wynn Capital LLC lifted its position in shares of Medtronic by 2.4% in the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock worth $442,000 after purchasing an additional 110 shares in the last quarter. Meridian Investment Counsel Inc. grew its stake in shares of Medtronic by 0.4% in the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after buying an additional 110 shares in the last quarter. Finally, Saxony Capital Management LLC boosted its position in Medtronic by 3.8% during the third quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 1.4%

Medtronic stock opened at $96.71 on Wednesday. The firm’s 50 day moving average price is $98.92 and its 200-day moving average price is $96.99. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The stock has a market cap of $124.16 billion, a P/E ratio of 26.94, a PEG ratio of 2.46 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s payout ratio is currently 79.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the transaction, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Citigroup started coverage on Medtronic in a research report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price target on the stock. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Wells Fargo & Company started coverage on shares of Medtronic in a report on Friday, January 30th. They set an “overweight” rating and a $114.00 price target on the stock. Leerink Partners dropped their price objective on Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.74.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).