California Public Employees Retirement System Increases Position in Medtronic PLC $MDT

Key Points

• California Public Employees Retirement System boosted its Medtronic stake by 57.9% in Q3, adding 1,870,495 shares to hold 5,101,347 shares (about 0.40% of the company) valued at roughly $485.85 million.
• Quarterly results beat expectations as Medtronic reported $1.36 EPS vs. $1.34 expected and $9.02 billion revenue vs. $8.89 billion, and set FY2026 guidance of $5.620–$5.660 per share.
• Medtronic declared a quarterly dividend of $0.71 per share (annualized $2.84, ~3.3% yield), with an ex-dividend date of March 27 and payment on April 17.

California Public Employees Retirement System increased its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 57.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,101,347 shares of the medical technology company's stock after acquiring an additional 1,870,495 shares during the period. California Public Employees Retirement System owned about 0.40% of Medtronic worth $485,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company's stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Medtronic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company's stock valued at $2,044,637,000 after purchasing an additional 192,410 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company's stock worth $2,008,278,000 after purchasing an additional 98,220 shares during the period. Invesco Ltd. raised its stake in shares of Medtronic by 3.9% during the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company's stock worth $1,538,302,000 after purchasing an additional 666,557 shares during the period. Finally, Norges Bank purchased a new position in shares of Medtronic in the 2nd quarter worth about $1,432,698,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the business's stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Medtronic from $103.00 to $100.00 and set a "neutral" rating for the company in a research report on Wednesday, February 18th. Piper Sandler reiterated a "neutral" rating on shares of Medtronic in a research note on Monday, January 5th. UBS Group reissued a "neutral" rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 4th. William Blair upgraded shares of Medtronic from a "market perform" rating to an "outperform" rating in a research note on Tuesday, January 6th. Finally, Sanford C. Bernstein lifted their price target on shares of Medtronic from $111.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.74.

Medtronic Trading Down 0.4%

Medtronic stock opened at $87.05 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The stock has a market cap of $111.77 billion, a P/E ratio of 24.25, a PEG ratio of 2.23 and a beta of 0.71. The firm's fifty day moving average price is $97.96 and its 200-day moving average price is $96.87.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, March 27th. Medtronic's dividend payout ratio (DPR) is 79.11%.

Medtronic Profile

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).

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