South Dakota Investment Council Purchases 13,100 Shares of Medtronic PLC $MDT

South Dakota Investment Council increased its holdings in Medtronic PLC (NYSE:MDT) by 5.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 263,553 shares of the medical technology company’s stock after buying an additional 13,100 shares during the period. South Dakota Investment Council’s holdings in Medtronic were worth $22,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legacy Advisory Services LLC bought a new stake in Medtronic during the first quarter worth about $541,000. GC Wealth Management RIA LLC raised its holdings in shares of Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after buying an additional 5,734 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in Medtronic by 22.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after buying an additional 5,296 shares during the last quarter. World Investment Advisors boosted its stake in Medtronic by 1.9% in the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock worth $13,608,000 after buying an additional 2,868 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its position in Medtronic by 6.7% during the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MDT shares. Daiwa Capital Markets boosted their price objective on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Morgan Stanley restated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday. The Goldman Sachs Group lowered their target price on Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. Finally, Argus raised their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Stock Performance

Medtronic stock opened at $90.82 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The firm has a market cap of $116.49 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.42 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $99.37. The firm has a 50-day moving average of $94.35 and a 200-day moving average of $89.72.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s payout ratio is 78.24%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade 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 insiders.

About Medtronic

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.