Artisan Partners Limited Partnership Sells 24,514 Shares of Medtronic PLC $MDT

Artisan Partners Limited Partnership lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,203,236 shares of the medical technology company’s stock after selling 24,514 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Medtronic were worth $104,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. 1248 Management LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $26,000. Twin Tree Management LP acquired a new position in shares of Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management increased its position in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares in the last quarter. Investment Management Corp VA ADV raised its holdings in shares of Medtronic by 144.2% during the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 238 shares during the period. Finally, GFG Capital LLC bought a new stake in Medtronic in the 2nd quarter valued at $36,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred 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 transaction, the executive vice president 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. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MDT has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Jefferies Financial Group reissued a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research report on Wednesday. Citigroup boosted their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Daiwa Capital Markets raised their price target on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Robert W. Baird lifted their price objective on shares of Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday. 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 stock. According to data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $108.50.

Medtronic Stock Down 0.7%

NYSE MDT opened at $100.12 on Thursday. The business has a fifty day moving average price of $94.80 and a two-hundred day moving average price of $90.70. The stock has a market capitalization of $128.42 billion, a PE ratio of 27.58, a PEG ratio of 2.42 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $102.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. Medtronic’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

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.