State of Michigan Retirement System Decreases Stake in Medtronic PLC $MDT

Posted by Brenda Bartman on Aug 16th, 2026

State of Michigan Retirement System cut its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 1.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 328,698 shares of the medical technology company’s stock after selling 6,200 shares during the quarter. State of Michigan Retirement System’s holdings in Medtronic were worth $25,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Worth Financial Advisory Group LLC purchased a new position in Medtronic in the 2nd quarter worth about $650,000. Retirement Planning Co of New England Inc. boosted its holdings in shares of Medtronic by 7.0% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 3,298 shares of the medical technology company’s stock valued at $258,000 after acquiring an additional 216 shares during the last quarter. Zhang Financial LLC boosted its holdings in shares of Medtronic by 27.4% during the 2nd quarter. Zhang Financial LLC now owns 56,984 shares of the medical technology company’s stock valued at $4,458,000 after acquiring an additional 12,259 shares during the last quarter. Kiker Wealth Management LLC grew its stake in shares of Medtronic by 2.9% in the second quarter. Kiker Wealth Management LLC now owns 7,676 shares of the medical technology company’s stock worth $601,000 after acquiring an additional 217 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in Medtronic in the second quarter worth approximately $1,131,000. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Medtronic Stock Up 0.6%

NYSE MDT opened at $91.10 on Friday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $116.62 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The stock’s 50-day moving average price is $83.20 and its 200-day moving average price is $86.36.

Medtronic (NYSE:MDT – Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a $0.72 dividend. The ex-dividend date was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research report on Monday, August 10th. The Goldman Sachs Group lowered their target price on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. UBS Group raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $100.00 in a research report on Tuesday, July 28th. Truist Financial lowered their price objective on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Finally, Robert W. Baird cut their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Get Our Latest Stock Report on MDT

Medtronic Company Profile

(Free Report)

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).