KLP Kapitalforvaltning AS Raises Holdings in Medtronic PLC $MDT

KLP Kapitalforvaltning AS boosted its position in Medtronic PLC (NYSE:MDT) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 506,587 shares of the medical technology company’s stock after acquiring an additional 17,300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Medtronic were worth $44,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Advisory Services LLC purchased a new position in shares of Medtronic in the 1st quarter worth about $541,000. GC Wealth Management RIA LLC increased its position in Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after purchasing an additional 5,734 shares in the last quarter. RNC Capital Management LLC raised its holdings in Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after buying an additional 33,729 shares during the period. Commerce Bank raised its holdings in Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock valued at $13,118,000 after buying an additional 2,429 shares during the period. Finally, Brighton Jones LLC lifted its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

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

Medtronic Price Performance

MDT opened at $98.46 on Tuesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $98.66. The firm has a market cap of $126.29 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 2.57 and a beta of 0.78. 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 company has a fifty day simple moving average of $93.07 and a 200 day simple moving average of $88.52.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s dividend payout ratio is currently 78.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MDT shares. Sanford C. Bernstein increased their price objective on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Evercore ISI upped 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 increased their price target on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Robert W. Baird raised their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, Citigroup boosted their price objective on Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.94.

Medtronic Company 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.