Empowered Funds LLC Acquires 35,790 Shares of Medtronic PLC $MDT

Empowered Funds LLC boosted its stake in Medtronic PLC (NYSE:MDT) by 33.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,713 shares of the medical technology company’s stock after purchasing an additional 35,790 shares during the period. Empowered Funds LLC’s holdings in Medtronic were worth $12,353,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after buying an additional 1,895,165 shares during the period. Geode Capital Management LLC lifted its stake in shares of Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after acquiring an additional 310,684 shares during the period. Bank of New York Mellon Corp boosted its holdings in Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after acquiring an additional 595,549 shares during the last quarter. Deutsche Bank AG increased its position in Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock valued at $1,708,220,000 after purchasing an additional 566,155 shares during the period. Finally, Invesco Ltd. raised its holdings in Medtronic by 9.9% during the 1st quarter. Invesco Ltd. now owns 16,980,592 shares of the medical technology company’s stock worth $1,525,876,000 after purchasing an additional 1,535,308 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDT. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $111.00 price objective on shares of Medtronic in a research note on Friday, October 10th. Truist Financial increased their price target on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Argus lifted their price objective on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. Finally, UBS Group raised their target price on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $103.06.

Medtronic Price Performance

MDT stock opened at $100.83 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company’s 50-day moving average is $94.64 and its 200-day moving average is $90.63. The stock has a market capitalization of $129.33 billion, a PE ratio of 27.78, 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 $102.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’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. Equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost 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 represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 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. 0.26% of the stock is owned by company insiders.

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.