CI Investments Inc. Has $5.76 Million Holdings in Medtronic PLC $MDT

CI Investments Inc. lessened its holdings in Medtronic PLC (NYSE:MDT) by 16.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,445 shares of the medical technology company’s stock after selling 11,903 shares during the quarter. CI Investments Inc.’s holdings in Medtronic were worth $5,757,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Delos Wealth Advisors LLC bought a new position in Medtronic in the second quarter valued at approximately $27,000. Corundum Trust Company INC bought a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Valley Wealth Managers Inc. bought a new stake in shares of Medtronic during the 3rd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. acquired 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 in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Performance

Shares of MDT opened at $95.58 on Thursday. The firm has a market cap of $122.71 billion, a P/E ratio of 26.62, a PEG ratio of 2.43 and a beta of 0.71. Medtronic PLC has a twelve month low of $79.55 and a twelve month high of $106.33. 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’s 50 day moving average price is $98.89 and its two-hundred day moving average price is $96.98.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Medtronic in a report on Friday, November 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $110.00 price target on shares of Medtronic in a research note on Wednesday, November 19th. Citigroup initiated coverage on shares of Medtronic in a research note on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price objective on the stock. Barclays reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Medtronic in a research note on Wednesday, February 18th. Finally, 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 report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $110.74.

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).