Portfolio Design Labs LLC Raises Stock Holdings in Medtronic PLC $MDT

Portfolio Design Labs LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 606.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 35,581 shares of the medical technology company’s stock after acquiring an additional 30,547 shares during the quarter. Portfolio Design Labs LLC’s holdings in Medtronic were worth $3,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MDT. AXQ Capital LP raised its holdings in shares of Medtronic by 25.6% during the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after purchasing an additional 2,013 shares during the last quarter. Legacy Advisory Services LLC acquired a new stake in Medtronic during the 1st quarter worth about $541,000. GC Wealth Management RIA LLC raised 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 valued at $2,926,000 after buying an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Medtronic by 22.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after buying an additional 5,296 shares during the last quarter. Finally, World Investment Advisors lifted its holdings in shares of Medtronic by 1.9% in the 2nd quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after buying an additional 2,868 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Medtronic Trading Down 1.9%

Shares of NYSE:MDT opened at $103.36 on Tuesday. The business’s 50 day moving average price is $96.23 and its 200-day moving average price is $91.83. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $106.33. The firm has a market capitalization of $132.51 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDT has been the topic of several analyst reports. Sanford C. Bernstein set a $111.00 target price on Medtronic in a report on Wednesday, November 19th. Robert W. Baird raised their price objective on shares of Medtronic from $103.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Truist Financial boosted their target price on shares of Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Barclays increased their price target on shares of Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Finally, UBS Group lifted their price objective on shares of Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.