IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Position in Medtronic PLC $MDT

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 8.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,869 shares of the medical technology company’s stock after purchasing an additional 6,350 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Medtronic were worth $7,485,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Legacy Advisory Services LLC bought a new stake in Medtronic during the 1st quarter valued at $541,000. GC Wealth Management RIA LLC lifted its stake in shares of 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 worth $2,926,000 after purchasing an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC boosted its position 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 valued at $2,562,000 after purchasing an additional 5,296 shares in the last quarter. RNC Capital Management LLC boosted its position in Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock valued at $37,474,000 after purchasing an additional 33,729 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its stake in Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after purchasing an additional 5,000 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Trading Up 0.5%

NYSE:MDT opened at $94.09 on Tuesday. The company has a market capitalization of $120.69 billion, a P/E ratio of 25.92, a PEG ratio of 2.47 and a beta of 0.78. 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 12 month low of $79.29 and a 12 month high of $99.37. The firm has a fifty day simple moving average of $94.35 and a 200-day simple moving average of $89.48.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were given a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio is currently 78.24%.

Analyst Ratings Changes

MDT has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $111.00 price objective on shares of Medtronic in a report on Friday, October 10th. Finally, Sanford C. Bernstein raised their price objective on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.82.

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.