South Dakota Investment Council Trims Holdings in Medtronic PLC $MDT

South Dakota Investment Council decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 34.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,861 shares of the medical technology company’s stock after selling 89,692 shares during the period. South Dakota Investment Council’s holdings in Medtronic were worth $16,559,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Medtronic by 1.5% during the second 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after acquiring an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp increased its position in Medtronic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock valued at $2,044,637,000 after purchasing an additional 192,410 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Medtronic by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after purchasing an additional 98,220 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Medtronic by 3.9% in the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after purchasing an additional 666,557 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MDT. Robert W. Baird cut their target price on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Morgan Stanley lifted their price objective on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. CICC Research initiated coverage on Medtronic in a report on Friday, January 30th. They set an “outperform” rating on the stock. Daiwa Securities Group decreased their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday. Finally, Royal Bank Of Canada lifted their price target on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.74.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Medtronic Price Performance

MDT stock opened at $98.09 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The firm has a 50 day moving average price of $98.94 and a 200-day moving average price of $96.96. Medtronic PLC has a 52-week low of $79.55 and a 52-week high of $106.33. The firm has a market capitalization of $125.93 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.45 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is currently 79.11%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).