iA Global Asset Management Inc. Invests $5.81 Million in Medtronic PLC $MDT

Key Points

• iA Global Asset Management bought a new position in Medtronic during the fourth quarter, acquiring 60,494 shares valued at about $5.81 million.
• Institutional interest in Medtronic remains strong, with hedge funds and other investors holding 82.06% of the stock. Several firms increased their stakes, including Brighton Jones LLC, which raised its position sharply.
• Medtronic’s recent results were solid, as the company beat quarterly EPS and revenue estimates and reaffirmed FY2026 guidance. Analysts currently rate the stock a Moderate Buy, with a consensus target price of $107.80.

iA Global Asset Management Inc. acquired a new position in Medtronic PLC (NYSE:MDT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 60,494 shares of the medical technology company's stock, valued at approximately $5,811,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company's stock valued at $380,000 after purchasing an additional 381 shares during the last quarter. Jump Financial LLC acquired a new position in Medtronic during the 2nd quarter valued at $299,000. Main Street Financial Solutions LLC raised its stake in Medtronic by 28.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company's stock valued at $1,251,000 after purchasing an additional 3,218 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in Medtronic by 21.3% during the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company's stock valued at $1,676,000 after purchasing an additional 3,376 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Needham & Company LLC reiterated a "buy" rating and set a $120.00 target price on shares of Medtronic in a research note on Thursday, March 26th. Leerink Partners reissued an "outperform" rating and issued a $119.00 price target on shares of Medtronic in a report on Tuesday, March 10th. Evercore set a $106.00 price target on shares of Medtronic and gave the company an "outperform" rating in a report on Thursday, April 9th. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Finally, CICC Research assumed coverage on shares of Medtronic in a report on Friday, January 30th. They issued an "outperform" rating on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and an average target price of $107.80.

Medtronic Stock Down 0.0%

MDT opened at $76.12 on Monday. The firm's 50-day simple moving average is $84.76 and its 200-day simple moving average is $93.63. 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 twelve month low of $74.40 and a twelve month high of $106.33. The firm has a market cap of $97.73 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.81 and a beta of 0.62.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly 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 business had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.57 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.7%. Medtronic's dividend payout ratio is 79.11%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were 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 in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

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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