Connor Clark & Lunn Investment Management Ltd. Has $8.67 Million Stake in Medtronic PLC $MDT

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Medtronic PLC (NYSE:MDT) by 483.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 99,453 shares of the medical technology company’s stock after buying an additional 82,410 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Medtronic were worth $8,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Gilbert & Cook Inc. lifted its position in Medtronic by 1.9% during the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock worth $532,000 after purchasing an additional 114 shares during the period. Red Spruce Capital LLC raised its position in shares of Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after buying an additional 118 shares in the last quarter. Certior Financial Group LLC lifted its holdings in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after acquiring an additional 122 shares during the period. PrairieView Partners LLC boosted its position in shares of Medtronic by 3.6% during the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after acquiring an additional 128 shares in the last quarter. Finally, Motco increased its stake in Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company’s stock valued at $57,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The SEC filing for this sale provides additional information. 0.26% of the stock is owned by company insiders.

Medtronic Trading Up 0.4%

MDT opened at $95.79 on Thursday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The company has a fifty day moving average of $94.31 and a 200-day moving average of $90.22. The stock has a market cap of $122.86 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. UBS Group boosted their price target on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Argus raised their price objective on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Robert W. Baird boosted their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Daiwa Capital Markets increased their target price on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

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.