State of New Jersey Common Pension Fund D Boosts Stake in Medtronic PLC $MDT

State of New Jersey Common Pension Fund D grew its position in shares of Medtronic PLC (NYSE:MDT) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 446,847 shares of the medical technology company’s stock after acquiring an additional 17,030 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Medtronic were worth $42,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Delos Wealth Advisors LLC acquired a new stake in Medtronic during the 2nd quarter worth approximately $27,000. Corundum Trust Company INC purchased a new stake in Medtronic during the third quarter worth approximately $27,000. Valley Wealth Managers Inc. acquired a new stake in shares of Medtronic in the third quarter worth $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Medtronic in the 3rd quarter valued at $33,000. Finally, Tripletail Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at $34,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 1.3%

Shares of NYSE:MDT opened at $99.57 on Friday. The firm has a market cap of $127.65 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.62 and a beta of 0.71. The company has a fifty day simple moving average of $99.28 and a 200 day simple moving average of $96.43. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33.

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, topping the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is presently 76.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MDT shares. Citigroup began coverage on Medtronic in a research note on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price objective on the stock. Robert W. Baird set a $103.00 price target on Medtronic in a research report on Tuesday, December 16th. Needham & Company LLC raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, February 9th. Royal Bank Of Canada boosted their target price on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Finally, Barclays assumed coverage on shares of Medtronic in a research note on Friday. They issued an “overweight” rating and a $116.00 target price for the company. Sixteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $111.21.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: FDA cleared Medtronic’s Stealth AXiS system — an integrated planning, navigation and robotics platform for spine surgery that expands the company’s procedural addressable market and supports hardware/software recurring revenue potential. This is a material product‑launch catalyst for spine and future cranial/ENT applications. PR Newswire
• Positive Sentiment: Independent coverage and price‑target lifts: Barclays initiated coverage with an Overweight and $116 PT, and Needham upgraded to Buy with a $121 PT — both signal analyst conviction that recent product momentum and margins support upside from current levels. Benzinga Needham Upgrade
• Positive Sentiment: Market commentary highlights improving returns/operational momentum that could support multiple expansion if sustained — a constructive narrative for longer‑term investors. Yahoo Finance
• Neutral Sentiment: Q3 FY2026 earnings preview: analysts outline what to watch in the upcoming report (revenue cadence, procedure volumes, and guidance) — an event that could be a short‑term catalyst but not new information. MSN Earnings Preview
• Neutral Sentiment: Dividend/income writeups underscore MDT’s ~2.8% yield and ways to generate cash flow; supportive for income investors but a limited driver of near‑term price moves. Benzinga Dividend
• Negative Sentiment: Geopolitical and China exposure risks: analysis highlights tariffs and China’s volume‑based procurement (VBP) program as potential headwinds to margins and growth in a key market — a meaningful downside risk that can compress near‑term revenue and investor sentiment. Seeking Alpha

About Medtronic

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).