Grantham Mayo Van Otterloo & Co. LLC Trims Stake in Medtronic PLC $MDT

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in Medtronic PLC (NYSE:MDT) by 60.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,623 shares of the medical technology company’s stock after selling 101,319 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Medtronic were worth $5,895,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AXQ Capital LP boosted its holdings in shares of Medtronic by 25.6% during the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock valued at $862,000 after buying an additional 2,013 shares in the last quarter. Legacy Advisory Services LLC purchased a new position in Medtronic during the 1st quarter valued at about $541,000. GC Wealth Management RIA LLC lifted its position in Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after acquiring an additional 5,734 shares during the period. Verdence Capital Advisors LLC boosted its stake in Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after acquiring an additional 5,296 shares in the last quarter. Finally, World Investment Advisors grew its holdings in Medtronic by 1.9% in the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after purchasing an additional 2,868 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction that occurred 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 directly owned 35,615 shares in the company, valued at $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 is available through this link. 0.26% of the stock is currently owned by insiders.

Medtronic Stock Performance

Shares of MDT opened at $104.53 on Friday. The company has a market cap of $134.00 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 2.42 and a beta of 0.77. The business’s fifty day simple moving average is $96.06 and its two-hundred day simple moving average is $91.66. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $106.33. 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 (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (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 firm 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 company posted $1.26 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research report on Wednesday, October 8th. UBS Group lifted their price objective on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. increased their target price on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Finally, Leerink Partners set a $120.00 price target on Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $110.44.

About Medtronic

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.