Handelsbanken Fonder AB Increases Holdings in Medtronic PLC $MDT

Handelsbanken Fonder AB increased its position in Medtronic PLC (NYSE:MDT) by 5.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 616,024 shares of the medical technology company’s stock after buying an additional 31,175 shares during the quarter. Handelsbanken Fonder AB’s holdings in Medtronic were worth $53,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Auxano Advisors LLC raised its stake in shares of Medtronic by 5.0% during the second quarter. Auxano Advisors LLC now owns 16,548 shares of the medical technology company’s stock worth $1,442,000 after acquiring an additional 783 shares in the last quarter. Howe & Rusling Inc. purchased a new stake in shares of Medtronic in the 2nd quarter valued at $5,331,000. EFG Asset Management Americas Corp. grew its holdings in shares of Medtronic by 5.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 24,877 shares of the medical technology company’s stock valued at $2,169,000 after purchasing an additional 1,262 shares during the last quarter. Alteri Wealth LLC grew its holdings in shares of Medtronic by 26.3% during the 2nd quarter. Alteri Wealth LLC now owns 10,188 shares of the medical technology company’s stock valued at $888,000 after purchasing an additional 2,119 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Medtronic by 2.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 151,093 shares of the medical technology company’s stock worth $13,406,000 after purchasing an additional 3,902 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic 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 sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MDT. Wells Fargo & Company upped their price target on shares of Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday. Cowen restated a “buy” rating on shares of Medtronic in a report on Friday, November 14th. JPMorgan Chase & Co. raised their price target on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Royal Bank Of Canada increased their price objective on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup lifted their target price on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.72.

Medtronic Trading Down 1.0%

NYSE MDT opened at $99.36 on Friday. The stock has a market cap of $127.45 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $102.59. The stock has a 50 day simple moving average of $94.90 and a two-hundred day simple moving average of $90.76. 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 (NYSE:MDT) last announced its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The firm’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. On average, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

About Medtronic

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.