Medtronic PLC $MDT Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its position in Medtronic PLC (NYSE:MDT) by 35.1% in the 2nd quarter, Holdings Channel reports. The firm owned 89,983 shares of the medical technology company’s stock after selling 48,662 shares during the period. Texas Permanent School Fund Corp’s holdings in Medtronic were worth $7,844,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in MDT. 1248 Management LLC acquired a new position in Medtronic during the first quarter worth approximately $26,000. Delos Wealth Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at approximately $27,000. Twin Tree Management LP purchased a new position in shares of Medtronic during the first quarter worth approximately $29,000. Activest Wealth Management increased its holdings in shares of Medtronic by 3,577.8% in the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 322 shares during the period. Finally, GFG Capital LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 1.2%

NYSE MDT opened at $98.68 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $126.51 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.63 and a beta of 0.71. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $106.33. The firm has a 50-day moving average price of $97.28 and a 200 day moving average price of $93.07.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio is currently 76.55%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MDT shares. Wells Fargo & Company increased their price target on shares of Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. upped their target price on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Sanford C. Bernstein set a $111.00 target price on shares of Medtronic in a research note on Wednesday, November 19th. UBS Group boosted their price target on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $110.00 price objective on shares of Medtronic in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.44.

Medtronic 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.