CI Investments Inc. Has $5.76 Million Stock Holdings in Medtronic PLC $MDT

CI Investments Inc. reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 16.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,445 shares of the medical technology company’s stock after selling 11,903 shares during the period. CI Investments Inc.’s holdings in Medtronic were worth $5,757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC boosted its holdings in Medtronic by 72.0% during the third quarter. Focus Partners Advisor Solutions LLC now owns 32,428 shares of the medical technology company’s stock valued at $3,030,000 after purchasing an additional 13,579 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Medtronic by 6.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 16,961 shares of the medical technology company’s stock worth $1,615,000 after buying an additional 999 shares during the period. 111 Capital acquired a new stake in Medtronic in the 3rd quarter valued at $1,146,000. Elo Mutual Pension Insurance Co grew its position in Medtronic by 21.4% in the third quarter. Elo Mutual Pension Insurance Co now owns 172,058 shares of the medical technology company’s stock valued at $16,387,000 after acquiring an additional 30,344 shares during the period. Finally, WASHINGTON TRUST Co grew its position in Medtronic by 2.4% in the third quarter. WASHINGTON TRUST Co now owns 93,748 shares of the medical technology company’s stock valued at $8,929,000 after acquiring an additional 2,178 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MDT. Daiwa Securities Group reduced their target price on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Citigroup started coverage on shares of Medtronic in a research report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price target on the stock. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Robert W. Baird cut their target price on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. One 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 company. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $110.74.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Trading Down 1.2%

MDT opened at $95.58 on Thursday. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The stock has a market capitalization of $122.71 billion, a PE ratio of 26.62, a PEG ratio of 2.43 and a beta of 0.71. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $98.89 and a two-hundred day moving average price of $96.98.

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

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).