Mediolanum International Funds Ltd Decreases Stake in Medtronic PLC $MDT

by · The Markets Daily

Mediolanum International Funds Ltd decreased its position in Medtronic PLC (NYSE:MDT – Free Report) by 22.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,185 shares of the medical technology company’s stock after selling 52,160 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Medtronic were worth $15,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. PFG Advisors boosted its stake in Medtronic by 55.0% during the first quarter. PFG Advisors now owns 4,144 shares of the medical technology company’s stock worth $372,000 after buying an additional 1,471 shares during the period. Venturi Wealth Management LLC increased its position in Medtronic by 9.5% during the first quarter. Venturi Wealth Management LLC now owns 6,982 shares of the medical technology company’s stock valued at $627,000 after acquiring an additional 608 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of Medtronic by 7.2% in the first quarter. AE Wealth Management LLC now owns 8,899 shares of the medical technology company’s stock valued at $800,000 after acquiring an additional 597 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Medtronic by 0.7% in the 1st quarter. Pinnacle Associates Ltd. now owns 121,244 shares of the medical technology company’s stock worth $10,895,000 after acquiring an additional 815 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MDT shares. Citigroup upped their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Stifel Nicolaus upped their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Cowen reiterated a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Truist Financial boosted their price objective on Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.72.

Get Our Latest Research Report on Medtronic

Medtronic Stock Up 1.8%

Shares of Medtronic stock opened at $101.16 on Friday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $102.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The stock has a market cap of $129.76 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.42 and a beta of 0.77. The firm’s 50-day moving average is $95.04 and its two-hundred day moving average is $90.88.

Medtronic (NYSE:MDT – Get Free Report) last announced its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

About Medtronic

(Free Report)

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

See Also

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