North Dakota State Investment Board Takes $4.23 Million Position in Medtronic PLC $MDT

Key Points

• North Dakota State Investment Board bought a new Medtronic stake in the fourth quarter, acquiring 43,981 shares valued at about $4.23 million.
• Institutional interest in Medtronic remains strong, with several large investors increasing holdings and institutional ownership at 82.06%. However, insider selling was noted, including an EVP who sold 52,524 shares.
• Medtronic’s latest results beat expectations, with quarterly EPS of $1.36 versus the $1.34 consensus and revenue of $9.02 billion. The company also maintained a quarterly dividend of $0.71 per share, yielding about 3.7%.

North Dakota State Investment Board purchased a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 43,981 shares of the medical technology company's stock, valued at approximately $4,225,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MDT. Barclays PLC increased its stake in shares of Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company's stock valued at $650,604,000 after purchasing an additional 3,492,192 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company's stock valued at $717,143,000 after purchasing an additional 3,307,211 shares during the last quarter. Guinness Asset Management LTD bought a new position in shares of Medtronic in the 3rd quarter valued at $275,556,000. Wellington Management Group LLP increased its stake in shares of Medtronic by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company's stock valued at $970,456,000 after purchasing an additional 2,658,981 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Medtronic by 2,297.7% in the 4th quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company's stock valued at $241,179,000 after purchasing an additional 2,406,000 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 32,768 shares in the company, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent analyst reports. Weiss Ratings lowered Medtronic from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, April 21st. Citigroup reduced their price objective on Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. CICC Research began coverage on Medtronic in a research report on Friday, January 30th. They set an "outperform" rating on the stock. Evercore set a $106.00 price objective on Medtronic and gave the stock an "outperform" rating in a research report on Thursday, April 9th. Finally, Leerink Partners restated an "outperform" rating and set a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.80.

Medtronic Trading Down 0.0%

Shares of MDT stock opened at $76.12 on Monday. The firm has a market capitalization of $97.73 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.81 and a beta of 0.62. Medtronic PLC has a twelve month low of $74.40 and a twelve month high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock's fifty day simple moving average is $84.76 and its 200 day simple moving average is $93.63.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.Medtronic's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.57 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

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).

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