Burgundy Asset Management Ltd. Sells 33,765 Shares of Medtronic PLC $MDT

Burgundy Asset Management Ltd. reduced its position in Medtronic PLC (NYSE:MDT) by 1.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,184,386 shares of the medical technology company’s stock after selling 33,765 shares during the period. Medtronic accounts for about 1.9% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 15th largest position. Burgundy Asset Management Ltd. owned approximately 0.17% of Medtronic worth $202,733,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MDT. Artisan Partners Limited Partnership raised its position in shares of Medtronic by 2.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after purchasing an additional 31,314 shares during the last quarter. AXQ Capital LP raised its holdings in shares of Medtronic by 25.6% in the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after buying an additional 2,013 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Medtronic by 65.8% during the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after buying an additional 54,898 shares during the period. Applied Finance Capital Management LLC purchased a new stake in shares of Medtronic during the third quarter valued at $1,308,000. Finally, Willis Investment Counsel increased its position in shares of Medtronic by 5.0% in the 3rd quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after acquiring an additional 19,192 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.2%

MDT stock opened at $95.58 on Thursday. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The firm’s fifty day moving average is $98.89 and its 200 day moving average is $96.98. The firm has a market cap of $122.71 billion, a PE ratio of 26.62, a P/E/G ratio of 2.43 and a beta of 0.71.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank Of Canada lifted their price target on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Sanford C. Bernstein lifted their target price on Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Leerink Partners reduced their price target on shares of Medtronic from $120.00 to $119.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Jefferies Financial Group restated a “hold” rating and set a $110.00 price objective on shares of Medtronic in a research note on Wednesday, November 19th. Finally, CICC Research initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.74.

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

Medtronic Company 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).