QRG Capital Management Inc. Sells 296,158 Shares of Medtronic PLC $MDT

QRG Capital Management Inc. decreased its holdings in Medtronic PLC (NYSE:MDT) by 52.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 271,109 shares of the medical technology company’s stock after selling 296,158 shares during the period. QRG Capital Management Inc.’s holdings in Medtronic were worth $25,820,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Evergreen Capital Management LLC lifted its stake in Medtronic by 11.5% during the third quarter. Evergreen Capital Management LLC now owns 16,770 shares of the medical technology company’s stock worth $1,608,000 after purchasing an additional 1,736 shares during the period. Leavell Investment Management Inc. boosted its stake in Medtronic by 24.2% in the 3rd quarter. Leavell Investment Management Inc. now owns 6,848 shares of the medical technology company’s stock valued at $657,000 after buying an additional 1,335 shares in the last quarter. Arlington Trust Co LLC raised its stake in Medtronic by 101.5% during the third quarter. Arlington Trust Co LLC now owns 1,739 shares of the medical technology company’s stock worth $166,000 after acquiring an additional 876 shares in the last quarter. Vectors Research Management LLC lifted its holdings in shares of Medtronic by 58.3% during the third quarter. Vectors Research Management LLC now owns 23,083 shares of the medical technology company’s stock valued at $2,198,000 after acquiring an additional 8,502 shares during the period. Finally, Arlington Partners LLC lifted its holdings in shares of Medtronic by 4.4% during the third quarter. Arlington Partners LLC now owns 54,158 shares of the medical technology company’s stock valued at $5,158,000 after acquiring an additional 2,296 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 2.2%

NYSE MDT opened at $96.82 on Friday. The stock has a market capitalization of $124.12 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 2.61 and a beta of 0.71. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The stock has a fifty day moving average of $98.99 and a 200-day moving average of $94.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the firm earned $1.26 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is currently 76.55%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MDT. Jefferies Financial Group reiterated a “hold” rating and set a $110.00 target price on shares of Medtronic in a research report on Wednesday, November 19th. Citigroup raised their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Robert W. Baird set a $103.00 price target on Medtronic in a report on Tuesday, December 16th. Barclays boosted their price objective on Medtronic from $111.00 to $116.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, Morgan Stanley raised their target price on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).