Illinois Municipal Retirement Fund Has $20.52 Million Stock Position in Medtronic PLC $MDT

Illinois Municipal Retirement Fund lifted its stake in Medtronic PLC (NYSE:MDT) by 15.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,619 shares of the medical technology company’s stock after acquiring an additional 28,192 shares during the period. Illinois Municipal Retirement Fund’s holdings in Medtronic were worth $20,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares during the last quarter. State Street Corp grew its stake in shares of Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after acquiring an additional 625,992 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Medtronic by 2.7% during the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after buying an additional 1,419,730 shares in the last quarter. Capital Research Global Investors increased its holdings in Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after buying an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Medtronic by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after buying an additional 231,919 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic received FDA clearance for an updated Nellcor pulse oximetry system, which should help its monitoring portfolio and improve performance across diverse patient groups. Medtronic gets FDA nod for updated pulse oximetry system
• Positive Sentiment: The company earned CE mark approval for its Stealth AXiS robotic platform in ENT surgery, expanding its reach in Europe and supporting future procedure volume. Medtronic earns CE mark for Stealth AXiS robot platform in ENT surgery
• Positive Sentiment: Investor sentiment toward healthcare has improved as money rotates out of tech and into defensive sectors, which can help MDT relative to the broader market. As Tech Stocks Slide, The Healthcare Sector Shines. Why Some Experts Say They Like This Defensive Play
• Positive Sentiment: Recent commentary has highlighted Medtronic as attractively valued at about 14x forward earnings with a 3.5% dividend yield and steady fiscal 2027 guidance. Is Medtronic Stock a Buy at 14x Forward Earnings?
• Neutral Sentiment: Analysts remain broadly constructive, but some recent price-target cuts suggest expectations have been reset after the latest earnings update.
• Neutral Sentiment: MarketWatch noted Medtronic underperformed some peers despite gains, indicating investors are still favoring stronger near-term names in the sector. Medtronic PLC stock underperforms Tuesday when compared to competitors despite daily gains
• Negative Sentiment: EVP Harry Skip Kiil sold 4,189 shares, a transaction that can modestly weigh on sentiment even if it may be routine. Harry Skip Kiil insider transaction
• Negative Sentiment: Investors also appear focused on margin pressure risks from tariffs and mix shifts, which could limit upside despite steady growth. Is Medtronic Stock a Buy at 14x Forward Earnings?

Analysts Set New Price Targets

MDT has been the topic of several analyst reports. Barclays boosted their price target on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Argus lowered their price target on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, June 3rd. Finally, TD Cowen reissued a “buy” rating and issued a $119.00 price target on shares of Medtronic in a report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $99.00.

Medtronic Stock Down 2.1%

Shares of NYSE:MDT opened at $80.27 on Thursday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company’s fifty day moving average is $81.10 and its 200-day moving average is $91.60. The company has a market capitalization of $103.06 billion, a PE ratio of 21.52, a P/E/G ratio of 2.00 and a beta of 0.58.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a dividend of $0.72 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio is currently 76.14%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Medtronic Company 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).