Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Position in Medtronic PLC $MDT

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Medtronic PLC (NYSE:MDT) by 17.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 188,779 shares of the medical technology company’s stock after buying an additional 27,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Medtronic were worth $16,456,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. Sovran Advisors LLC raised its stake in shares of Medtronic by 13.6% during the first quarter. Sovran Advisors LLC now owns 5,532 shares of the medical technology company’s stock valued at $457,000 after purchasing an additional 661 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of Medtronic during the first quarter valued at approximately $77,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Medtronic during the first quarter valued at approximately $4,016,000. Finally, Smith Salley Wealth Management raised its stake in shares of Medtronic by 2.0% during the first quarter. Smith Salley Wealth Management now owns 180,276 shares of the medical technology company’s stock valued at $16,200,000 after purchasing an additional 3,588 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Stifel Nicolaus raised their price target on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Sanford C. Bernstein raised their price target on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Citigroup raised their price target on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Stock Down 0.8%

MDT stock opened at $93.33 on Wednesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $119.72 billion, a P/E ratio of 25.71, a PEG ratio of 2.48 and a beta of 0.78. The firm has a 50 day simple moving average of $94.42 and a 200-day simple moving average of $89.55.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s payout ratio is currently 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.