Stablepoint Partners LLC Has $6.04 Million Stock Position in Medtronic PLC $MDT

by · The Markets Daily

Stablepoint Partners LLC increased its holdings in Medtronic PLC (NYSE:MDT – Free Report) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,272 shares of the medical technology company’s stock after acquiring an additional 1,606 shares during the period. Medtronic comprises 1.0% of Stablepoint Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Stablepoint Partners LLC’s holdings in Medtronic were worth $6,038,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of 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. Geode Capital Management LLC boosted its position in shares of Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after buying an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Medtronic by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after buying an additional 595,549 shares in the last quarter. Deutsche Bank AG raised its position in Medtronic by 3.1% in the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after buying an additional 566,155 shares during the last quarter. Finally, Invesco Ltd. raised its position in Medtronic by 9.9% in the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock valued at $1,525,876,000 after buying an additional 1,535,308 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MDT shares. Leerink Partners set a $120.00 target price on shares of Medtronic and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Wells Fargo & Company upped their price objective on shares of Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Finally, UBS Group upped their target price on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.72.

Get Our Latest Research Report on Medtronic

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Down 0.5%

MDT opened at $104.53 on Friday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $106.33. The company’s 50-day moving average price is $96.06 and its two-hundred day moving average price is $91.61. The stock has a market cap of $134.07 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. Medtronic’s revenue 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, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current 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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