Palouse Capital Management Inc. grew its position in Medtronic PLC (NYSE:MDT – Free Report) by 105.5% during the second quarter, HoldingsChannel reports. The firm owned 57,027 shares of the medical technology company’s stock after buying an additional 29,275 shares during the quarter. Medtronic comprises approximately 2.8% of Palouse Capital Management Inc.’s holdings, making the stock its 9th biggest position. Palouse Capital Management Inc.’s holdings in Medtronic were worth $4,461,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Medtronic in the 4th quarter valued at $1,653,485,000. WCM Investment Management LLC acquired a new position in Medtronic during the 1st quarter worth $965,922,000. Capital Research Global Investors lifted its position in Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP lifted its position in Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after acquiring an additional 2,658,981 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after acquiring an additional 1,888,381 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic News Roundup
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: Medtronic received an expanded CE Mark indication in Europe for its Affera™ Mapping and Ablation System and Sphere-9™ Catheter to treat ventricular arrhythmias, including ventricular tachycardia and premature ventricular complexes. The approval expands the addressable market for the company’s cardiac-ablation technology and supports its international growth strategy. U.S. pivotal-trial enrollment is also underway. Medtronic announces expanded CE Mark indication for Affera and Sphere-9
- Positive Sentiment: A bullish investment opinion argues that Medtronic’s medical-device portfolio and long-term growth prospects could support substantial appreciation through the end of 2026. This is an analyst-style opinion rather than a new company announcement, so its effect is likely limited. Medtronic could soar by 40 percent
- Neutral Sentiment: Medtronic recently exceeded quarterly revenue and adjusted-EPS expectations, reporting $9.81 billion in revenue and $1.55 in EPS. Revenue increased 9.9% year over year, while full-year fiscal 2027 EPS guidance remains $5.90 to $6.00. These results provide a constructive operating backdrop but do not eliminate litigation concerns.
- Negative Sentiment: A U.S. jury ordered Medtronic to pay $88 million in the first trial involving allegations related to Covidien hernia mesh. Although the award may be manageable relative to Medtronic’s size, the verdict could raise concerns about additional lawsuits, settlement costs and potential reputational damage. Jury says Medtronic owes 88 million dollars in hernia mesh case
Medtronic Price Performance
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts expect that Medtronic PLC will post 5.94 EPS 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 issued a $0.72 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.4%. Medtronic’s payout ratio is currently 77.21%.
Wall Street Analysts Forecast Growth
MDT has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Sanford C. Bernstein cut their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Truist Financial decreased their target price on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. BTIG Research restated a “buy” rating and set a $91.00 target price on shares of Medtronic in a research note on Monday, July 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.83.
Read Our Latest Stock Analysis on Medtronic
Insider Buying and Selling
In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.
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).
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