Te Ahumairangi Investment Management Ltd Purchases 15,530 Shares of Medtronic PLC $MDT

Te Ahumairangi Investment Management Ltd raised its position in Medtronic PLC (NYSE:MDT) by 34.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,701 shares of the medical technology company’s stock after acquiring an additional 15,530 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Medtronic were worth $5,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in MDT. Gilbert & Cook Inc. boosted its position in shares of Medtronic by 1.9% in the 2nd quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock worth $532,000 after purchasing an additional 114 shares in the last quarter. Red Spruce Capital LLC raised its stake in Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after buying an additional 118 shares during the last quarter. Certior Financial Group LLC raised its stake in Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after buying an additional 122 shares during the last quarter. PrairieView Partners LLC grew its stake in shares of Medtronic by 3.6% during the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after acquiring an additional 128 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Medtronic by 3.1% during the first quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company’s stock valued at $410,000 after acquiring an additional 136 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Medtronic Price Performance

NYSE MDT opened at $105.32 on Wednesday. The stock has a 50-day simple moving average of $95.46 and a 200 day simple moving average of $91.29. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $105.60. The stock has a market capitalization of $135.09 billion, a PE ratio of 29.01, a P/E/G ratio of 2.42 and a beta of 0.77. 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 issued its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the business posted $1.26 EPS. The company’s revenue for the quarter 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 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Barclays lifted their price objective on shares of Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Truist Financial lifted their price target on Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $109.72.

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.