Swiss National Bank Boosts Holdings in Medtronic PLC $MDT

Swiss National Bank raised its stake in Medtronic PLC (NYSE:MDT) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,882,366 shares of the medical technology company’s stock after acquiring an additional 265,800 shares during the period. Swiss National Bank owned 0.30% of Medtronic worth $338,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Boston Partners grew its stake in Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after buying an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Medtronic by 28.8% in the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after buying an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Medtronic by 42.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the period. Nuveen LLC purchased a new position in shares of Medtronic during the first quarter worth approximately $260,649,000. Finally, Vanguard Group Inc. increased its holdings in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after acquiring an additional 1,895,165 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $99.36 on Friday. The company has a market cap of $127.45 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic PLC has a one year low of $79.29 and a one year high of $102.59. The business has a fifty day moving average of $94.90 and a two-hundred day moving average of $90.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MDT. Jefferies Financial Group restated a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Citigroup increased their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Argus boosted their target price on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, Leerink Partners set a $120.00 price target on Medtronic and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.72.

Insider Activity

In related news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $788,045.90. Following the sale, 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.26% of the company’s stock.

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.