Medtronic PLC $MDT Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in Medtronic PLC (NYSE:MDT) by 27.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 185,427 shares of the medical technology company’s stock after acquiring an additional 40,244 shares during the period. Illinois Municipal Retirement Fund’s holdings in Medtronic were worth $17,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Medtronic by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the period. Geode Capital Management LLC boosted its stake in Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after buying an additional 310,684 shares during the period. Bank of New York Mellon Corp boosted its stake in Medtronic by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after buying an additional 192,410 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after acquiring an additional 98,220 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Medtronic by 3.9% in the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after acquiring an additional 666,557 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

MDT stock opened at $101.07 on Thursday. The business’s 50-day moving average is $99.34 and its two-hundred day moving average is $96.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The firm has a market capitalization of $129.58 billion, a P/E ratio of 27.24, a P/E/G ratio of 2.67 and a beta of 0.71. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s payout ratio is 76.55%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDT. Sanford C. Bernstein increased their price objective on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Wells Fargo & Company began coverage on Medtronic in a research note on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective for the company. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $110.00 price target on shares of Medtronic in a research note on Wednesday, November 19th. Sixteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.21.

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).