Chicago Capital LLC Grows Stock Position in Medtronic PLC $MDT

Chicago Capital LLC raised its position in Medtronic PLC (NYSE:MDT) by 45.2% in the 2nd quarter, Holdings Channel reports. The fund owned 16,873 shares of the medical technology company’s stock after purchasing an additional 5,249 shares during the period. Chicago Capital LLC’s holdings in Medtronic were worth $1,471,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MDT. Boston Partners grew its holdings in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after purchasing an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after buying an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after acquiring an additional 3,017,849 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Medtronic during the first quarter worth about $260,649,000. Finally, Mackenzie Financial Corp increased its position in shares of Medtronic by 220.9% during the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after acquiring an additional 1,660,357 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Medtronic Trading Up 1.3%

Medtronic stock opened at $95.23 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The firm’s 50-day moving average is $92.73 and its 200-day moving average is $88.40. The company has a market cap of $122.15 billion, a P/E ratio of 26.23, a PEG ratio of 2.47 and a beta of 0.77.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MDT. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective for the company. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Argus lifted their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Wells Fargo & Company increased their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $102.27.

Medtronic Profile

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.