Employees Retirement System of Texas Has $84.88 Million Stock Position in Medtronic PLC $MDT

Employees Retirement System of Texas increased its stake in shares of Medtronic PLC (NYSE:MDT) by 1,117.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 891,232 shares of the medical technology company’s stock after acquiring an additional 818,000 shares during the quarter. Employees Retirement System of Texas owned about 0.07% of Medtronic worth $84,881,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MDT. Vanguard Group Inc. raised its position in shares of Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after buying an additional 1,895,165 shares during the last quarter. Bank of New York Mellon Corp grew its position in Medtronic by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after buying an additional 192,410 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after acquiring an additional 98,220 shares during the period. Invesco Ltd. increased its stake in Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after acquiring an additional 666,557 shares during the period. Finally, Norges Bank acquired a new position in Medtronic in the 2nd quarter valued at approximately $1,432,698,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of MDT stock opened at $87.50 on Friday. The stock’s fifty day simple moving average is $98.14 and its 200 day simple moving average is $96.87. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The firm has a market cap of $112.34 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 2.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $9.02 billion during 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%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is 79.11%.

Analyst Ratings Changes

A number of brokerages have commented on MDT. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Wells Fargo & Company began coverage on Medtronic in a research note on Friday, January 30th. They issued an “overweight” rating and a $114.00 target price for the company. Mizuho raised Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada boosted their price target on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average target price of $110.74.

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).