Rockefeller Capital Management L.P. Boosts Holdings in Medtronic PLC $MDT

Rockefeller Capital Management L.P. raised its position in Medtronic PLC (NYSE:MDT) by 16.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 595,169 shares of the medical technology company’s stock after purchasing an additional 82,350 shares during the period. Rockefeller Capital Management L.P.’s holdings in Medtronic were worth $51,882,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Legacy Advisory Services LLC bought a new stake in Medtronic during the first quarter valued at approximately $541,000. GC Wealth Management RIA LLC increased its holdings in shares of Medtronic by 20.6% in 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 buying an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC raised its position 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 in the last quarter. World Investment Advisors raised its position in shares of Medtronic by 1.9% during 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 in the last quarter. Finally, Sivik Global Healthcare LLC lifted its holdings in shares of Medtronic by 6.7% during the 2nd quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock worth $6,974,000 after acquiring an additional 5,000 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday. Robert W. Baird raised their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. The Goldman Sachs Group cut their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Argus increased their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.06.

Medtronic Price Performance

Shares of Medtronic stock opened at $95.92 on Monday. The company’s fifty day simple moving average is $94.43 and its two-hundred day simple moving average is $90.43. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The firm has a market cap of $123.04 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

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

Insider Activity at Medtronic

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

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.