MV Capital Management Inc. Has $1.53 Million Position in Medtronic PLC $MDT

MV Capital Management Inc. reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,529 shares of the medical technology company’s stock after selling 1,254 shares during the quarter. MV Capital Management Inc.’s holdings in Medtronic were worth $1,528,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. 1248 Management LLC bought a new position in Medtronic in the 1st quarter valued at about $26,000. Twin Tree Management LP bought a new stake in shares of Medtronic during the 1st quarter worth approximately $29,000. Activest Wealth Management boosted its position in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares in the last quarter. Investment Management Corp VA ADV increased its stake in Medtronic by 144.2% in the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 238 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Medtronic during the second quarter valued at approximately $36,000. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

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

Medtronic Price Performance

Medtronic stock opened at $95.79 on Thursday. The stock has a 50-day moving average price of $94.31 and a two-hundred day moving average price of $90.22. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $99.37. The company has a market capitalization of $122.86 billion, a PE ratio of 26.39, a P/E/G ratio of 2.42 and a beta of 0.77. 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 released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The firm’s 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. Analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MDT shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Mizuho lifted their target price on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Truist Financial boosted their target price on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Stifel Nicolaus raised their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.