Medtronic PLC $MDT Stock Position Decreased by Korea Investment CORP

Korea Investment CORP trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 993,333 shares of the medical technology company’s stock after selling 148,232 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Medtronic worth $86,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Medtronic in the first quarter worth approximately $26,000. Twin Tree Management LP acquired a new stake in shares of Medtronic in the 1st quarter valued at $29,000. Activest Wealth Management boosted 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 worth $30,000 after purchasing an additional 322 shares in the last quarter. GFG Capital LLC acquired a new position in Medtronic during the second quarter worth $36,000. Finally, True Wealth Design LLC raised its holdings in Medtronic by 49.8% during the second quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock valued at $37,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDT. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Leerink Partners set a $120.00 price target on Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. lifted their price target on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Royal Bank Of Canada upped their price objective on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. 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 report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $109.72.

Medtronic Trading Down 0.2%

Shares of MDT stock opened at $105.13 on Thursday. The firm has a market capitalization of $134.85 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $106.33. The firm’s fifty day simple moving average is $95.68 and its 200 day simple moving average is $91.39. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

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

Medtronic 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.