DNB Asset Management AS Sells 47,132 Shares of Medtronic PLC $MDT

DNB Asset Management AS trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 903,482 shares of the medical technology company’s stock after selling 47,132 shares during the quarter. DNB Asset Management AS owned approximately 0.07% of Medtronic worth $78,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the period. PFG Advisors grew its stake in shares of Medtronic by 55.0% in the first quarter. PFG Advisors now owns 4,144 shares of the medical technology company’s stock worth $372,000 after purchasing an additional 1,471 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Medtronic by 9.5% in the first quarter. Venturi Wealth Management LLC now owns 6,982 shares of the medical technology company’s stock valued at $627,000 after purchasing an additional 608 shares during the period. J. W. Coons Advisors LLC bought a new position in Medtronic during the 1st quarter worth $216,000. Finally, AE Wealth Management LLC lifted its holdings in Medtronic by 7.2% during the 1st quarter. AE Wealth Management LLC now owns 8,899 shares of the medical technology company’s stock worth $800,000 after buying an additional 597 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. Robert W. Baird increased their price target on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Sanford C. Bernstein set a $111.00 price objective on shares of Medtronic in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.72.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was acquired 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 in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $99.36 on Friday. The firm has a market capitalization of $127.45 billion, a P/E ratio of 27.37, a P/E/G ratio of 2.42 and a beta of 0.77. The firm’s 50-day moving average price is $94.90 and its 200-day moving average price is $90.76. 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 PLC has a 1-year low of $79.29 and a 1-year high of $102.59.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company posted $1.26 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

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.