Medtronic PLC $MDT Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its stake in Medtronic by 8.6% in Q4 to 294,428 shares (about $28.28M), and institutional investors/hedge funds now own roughly 82.06% of the stock.
• Medtronic beat quarterly expectations with $1.36 EPS versus $1.34 expected and $9.02B revenue (up 5.8% YoY), and it set FY2026 guidance of $5.62–$5.66 EPS (analysts forecast ~5.57).
• The company paid a quarterly dividend of $0.71 (annualized $2.84) for a 3.6% yield and a dividend payout ratio of about 79%.

QRG Capital Management Inc. lifted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 294,428 shares of the medical technology company's stock after purchasing an additional 23,319 shares during the quarter. QRG Capital Management Inc.'s holdings in Medtronic were worth $28,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Corundum Trust Company INC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $27,000. Valley Wealth Managers Inc. acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $29,000. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $29,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $29,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 2.1%

MDT opened at $78.33 on Tuesday. Medtronic PLC has a 12 month low of $78.29 and a 12 month high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The stock has a market cap of $100.56 billion, a P/E ratio of 21.82, a P/E/G ratio of 1.90 and a beta of 0.62. The stock's 50 day moving average price is $88.44 and its 200 day moving average price is $94.80.

Medtronic (NYSE:MDT - Get Free Report) last posted its 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. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm had revenue of $9.02 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same period last year, the firm earned $1.38 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts predict that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, March 27th. Medtronic's dividend payout ratio (DPR) is currently 79.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MDT. Mizuho dropped their price target on Medtronic from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Wells Fargo & Company began coverage on Medtronic in a research report on Friday, January 30th. They set an "overweight" rating and a $114.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $120.00 price target on shares of Medtronic in a research report on Thursday, March 26th. Finally, Truist Financial dropped their price target on Medtronic from $103.00 to $95.00 and set a "hold" rating on the stock in a research report on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $107.80.

Insider Transactions at Medtronic

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 transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares of the company's stock, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company's stock.

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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