Medtronic PLC $MDT Shares Sold by QRG Capital Management Inc.

Posted by Brian Himes on Sep 23rd, 2026

QRG Capital Management Inc. lowered its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 6.6% in the second quarter, Holdings Channel reports. The firm owned 299,948 shares of the medical technology company’s stock after selling 21,296 shares during the quarter. QRG Capital Management Inc.’s holdings in Medtronic were worth $23,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Medtronic by 17.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,993 shares of the medical technology company’s stock worth $5,788,000 after buying an additional 10,960 shares during the last quarter. State Street Corp lifted its position in Medtronic by 2.7% during the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after acquiring an additional 1,658,301 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new stake in Medtronic during the 2nd quarter worth approximately $48,000. Wellington Altus USA Inc. grew its stake in shares of Medtronic by 18.1% in the 2nd quarter. Wellington Altus USA Inc. now owns 2,294 shares of the medical technology company’s stock valued at $199,000 after purchasing an additional 351 shares during the last quarter. Finally, Bullseye Investment Management LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at approximately $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Rothschild & Co Redburn cut their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Thursday, September 3rd. TD Cowen boosted their price objective on shares of Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Robert W. Baird upped their price objective on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Bank of America raised their target price on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Nineteen 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, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $103.92.

Check Out Our Latest Analysis on MDT

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

Positive Sentiment: A Seeking Alpha analyst initiated coverage with a Buy rating and a $106.33 price target, implying approximately 17% upside, while highlighting Medtronic’s roughly 3% dividend yield and strong free-cash-flow growth. Medtronic: Buy The 3% Yield And Strong Free Cash Flow Growth
Positive Sentiment: Medtronic’s fiscal 2027 first-quarter performance exceeded expectations, with normalized revenue growth of 7% and particular strength in its Cardiovascular and Neuroscience businesses. Management also raised revenue and earnings guidance, supporting the view that the turnaround is gaining momentum.
Positive Sentiment: Several analysts raised their price targets following the quarterly results. Bullish investors argue that broader growth and a shift toward higher-margin recurring revenue could eventually improve profitability and the stock’s valuation. Medtronic Q1 Beat Sparks Target Hikes
Positive Sentiment: Income-focused coverage continues to emphasize Medtronic’s dividend profile and status as a long-standing dividend payer, which may provide downside support for investors seeking healthcare income.
Neutral Sentiment: Medtronic appointed a new vice president of global manufacturing. The leadership change could support operational execution, but the immediate financial impact is unclear. Medtronic Has a New VP of Global Manufacturing
Negative Sentiment: Wall Street remains split on whether accelerating growth can produce a meaningful re-rating. Margin expansion is expected to develop gradually as product mix changes, limiting the near-term earnings catalyst.
Negative Sentiment: Commentary describing Medtronic as a “quandary” reflects investor frustration that improved results have not yet translated into a stronger market valuation. This skepticism appears to be weighing on the shares despite the positive earnings and guidance trends. Jim Cramer Called Medtronic a Quandary

Medtronic Stock Performance

Shares of MDT stock traded down $1.49 during trading hours on Wednesday, reaching $89.28. 10,532,060 shares of the company’s stock were exchanged, compared to its average volume of 8,928,205. The company has a market cap of $114.20 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.56. The company’s 50 day moving average is $89.31 and its two-hundred day moving average is $84.87. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54.

Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Equities research analysts anticipate that Medtronic PLC will post 5.97 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is 70.94%.

About Medtronic

(Free Report)

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.