QRG Capital Management Inc. Has $25.82 Million Stock Holdings in Medtronic PLC $MDT

QRG Capital Management Inc. reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 52.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,109 shares of the medical technology company’s stock after selling 296,158 shares during the period. QRG Capital Management Inc.’s holdings in Medtronic were worth $25,820,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Delos Wealth Advisors LLC acquired a new position in Medtronic in the 2nd quarter worth about $27,000. Corundum Trust Company INC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Medtronic in the third quarter worth approximately $33,000. Tripletail Wealth Management LLC bought a new position in Medtronic during the third quarter valued at approximately $34,000. Finally, GFG Capital LLC acquired a new stake in Medtronic in the second quarter valued at approximately $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on MDT shares. Wells Fargo & Company increased their price target on shares of Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Robert W. Baird set a $103.00 price target on Medtronic in a research report on Tuesday, December 16th. William Blair upgraded Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Royal Bank Of Canada raised their price objective on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Finally, Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Stock Down 2.2%

MDT opened at $96.82 on Friday. The business has a 50 day moving average of $98.99 and a 200-day moving average of $94.84. The stock has a market capitalization of $124.12 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 2.61 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, December 26th. Medtronic’s payout ratio is currently 76.55%.

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).