Medtronic PLC $MDT Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. trimmed its position in Medtronic PLC (NYSE:MDT) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,184,386 shares of the medical technology company’s stock after selling 33,765 shares during the period. Medtronic comprises about 1.9% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 15th largest holding. Burgundy Asset Management Ltd.’s holdings in Medtronic were worth $202,733,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Artisan Partners Limited Partnership boosted its stake in Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after purchasing an additional 31,314 shares during the last quarter. AXQ Capital LP lifted its stake in shares of Medtronic by 25.6% in the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after buying an additional 2,013 shares in the last quarter. UMB Bank n.a. boosted its position in Medtronic by 65.8% during the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after acquiring an additional 54,898 shares during the last quarter. Applied Finance Capital Management LLC purchased a new stake in Medtronic during the 3rd quarter valued at about $1,308,000. Finally, Willis Investment Counsel raised its holdings in Medtronic by 5.0% in the 3rd quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after acquiring an additional 19,192 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $95.58 on Thursday. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company has a 50 day moving average price of $98.89 and a 200 day moving average price of $96.98. The stock has a market capitalization of $122.71 billion, a P/E ratio of 26.62, a PEG ratio of 2.43 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. 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. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Leerink Partners lowered their target price on Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. JPMorgan Chase & Co. dropped their target price on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Barclays reissued an “overweight” rating and set a $118.00 price target on shares of Medtronic in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “overweight” rating and a $114.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.74.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic 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 completion of the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is 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).