State of Michigan Retirement System Purchases 800 Shares of Medtronic PLC $MDT

State of Michigan Retirement System increased its position in Medtronic PLC (NYSE:MDT) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 348,698 shares of the medical technology company’s stock after purchasing an additional 800 shares during the quarter. State of Michigan Retirement System’s holdings in Medtronic were worth $30,396,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MDT. 1248 Management LLC acquired a new stake in Medtronic in the 1st quarter valued at about $26,000. Columbia River Financial Group LLC acquired a new stake in Medtronic in the 1st quarter valued at about $28,000. Twin Tree Management LP acquired a new stake in Medtronic in the 1st quarter valued at about $29,000. Activest Wealth Management lifted its stake in Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in Medtronic in the 1st quarter valued at about $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s 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. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MDT shares. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Stifel Nicolaus raised their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday. Royal Bank Of Canada restated an “outperform” rating and set a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Trading Down 0.2%

MDT opened at $90.82 on Friday. The company’s 50 day moving average price is $94.35 and its two-hundred day moving average price is $89.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The firm has a market capitalization of $116.49 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.42 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company earned $1.23 EPS. Medtronic’s quarterly 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. As a group, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

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.