Medtronic PLC $MDT Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its stake in Medtronic PLC (NYSE:MDT) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,647,149 shares of the medical technology company’s stock after purchasing an additional 666,557 shares during the quarter. Invesco Ltd. owned about 1.38% of Medtronic worth $1,538,302,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MDT. 1248 Management LLC acquired a new stake in Medtronic during the first quarter worth about $26,000. Twin Tree Management LP purchased a new position in Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management raised its holdings in Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after buying an additional 322 shares during the period. GFG Capital LLC acquired a new stake in shares of Medtronic in the second quarter worth $36,000. Finally, True Wealth Design LLC raised its stake in shares of Medtronic by 49.8% in the 2nd quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 140 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT opened at $101.99 on Wednesday. The firm has a market cap of $130.76 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.42 and a beta of 0.71. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $96.37 and its two-hundred day moving average is $91.94. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDT. Truist Financial upped their price target on shares of Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Royal Bank Of Canada upped their target price on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. UBS Group increased their target price on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Wells Fargo & Company upped their price target on Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $110.44.

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.