KBC Group NV Purchases 4,776 Shares of Medtronic PLC $MDT

KBC Group NV increased its holdings in Medtronic PLC (NYSE:MDT) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,026 shares of the medical technology company’s stock after acquiring an additional 4,776 shares during the period. KBC Group NV’s holdings in Medtronic were worth $34,434,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company’s stock worth $11,233,780,000 after buying an additional 810,854 shares during the last quarter. Bank of New York Mellon Corp raised its position in Medtronic by 2.9% in 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 acquiring an additional 595,549 shares during the period. Deutsche Bank AG boosted its stake in Medtronic by 3.1% in the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after acquiring an additional 566,155 shares during the last quarter. Invesco Ltd. grew its position in shares of Medtronic by 9.9% during 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 acquiring an additional 1,535,308 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $95.79 on Thursday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $94.31 and its 200 day moving average is $90.22. The stock has a market cap of $122.86 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the business posted $1.23 EPS. Medtronic’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Robert W. Baird upped their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $111.00 price target on shares of Medtronic in a research note on Friday, October 10th. Daiwa Capital Markets boosted their price objective on Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $98.00 target price on shares of Medtronic in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

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.