Medtronic PLC $MDT Stake Increased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 194,807 shares of the medical technology company’s stock after purchasing an additional 7,525 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Medtronic were worth $16,981,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Legacy Advisory Services LLC acquired a new stake in shares of Medtronic during the first quarter worth approximately $541,000. GC Wealth Management RIA LLC raised its holdings in shares of Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after acquiring an additional 5,734 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 5,296 shares in the last quarter. World Investment Advisors increased its position in Medtronic by 1.9% in the 2nd quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after purchasing an additional 2,868 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in shares of Medtronic by 6.7% during the 2nd quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after purchasing an additional 5,000 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.4%

Shares of MDT stock opened at $95.79 on Thursday. 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. 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 PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The firm has a fifty day moving average of $94.31 and a 200-day moving average of $90.22.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s revenue was up 7.7% compared to the same quarter last year. 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. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Argus increased their price objective on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. The Goldman Sachs Group lowered their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. Truist Financial lifted their target price on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Transactions at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s 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 completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.26% of the company’s stock.

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.