QRG Capital Management Inc. Has $49.45 Million Holdings in Medtronic PLC $MDT

QRG Capital Management Inc. grew its stake in Medtronic PLC (NYSE:MDT) by 8.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 567,267 shares of the medical technology company’s stock after buying an additional 43,455 shares during the quarter. QRG Capital Management Inc.’s holdings in Medtronic were worth $49,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Advisory Services LLC acquired a new position in shares of Medtronic in the first quarter valued at approximately $541,000. GC Wealth Management RIA LLC boosted its holdings in Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after purchasing an additional 5,734 shares during the last quarter. RNC Capital Management LLC boosted its holdings in Medtronic by 8.8% during the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after purchasing an additional 33,729 shares during the last quarter. Commerce Bank boosted its holdings in Medtronic by 1.7% during the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after purchasing an additional 2,429 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $97.63 on Friday. The stock has a market cap of $125.23 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The company has a fifty day moving average price of $92.94 and a two-hundred day moving average price of $88.50. Medtronic PLC has a one year low of $79.29 and a one year high of $97.94.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Wall Street Analyst Weigh In

Several research analysts recently commented on MDT shares. Wells Fargo & Company increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. BTIG Research restated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. UBS Group increased their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Citigroup increased their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Finally, Leerink Partners started coverage on shares of Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $102.27.

Insider Transactions at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the purchase, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.