Congress Asset Management Co. acquired a new position in shares of Medtronic PLC (NYSE:MDT – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 883,081 shares of the medical technology company’s stock, valued at approximately $76,201,000.
A number of other hedge funds have also modified their holdings of the business. Monetary Solutions Ltd purchased a new stake in Medtronic in the 4th quarter valued at approximately $27,000. IAG Wealth Partners LLC purchased a new position in Medtronic during the second quarter worth $30,000. Pin Oak Investment Advisors Inc. purchased a new position in Medtronic during the second quarter worth $32,000. Community Bank N.A. acquired a new position in shares of Medtronic in the second quarter worth $33,000. Finally, Core Capital Management & Research inc. acquired a new position in shares of Medtronic in the second quarter worth $33,000. 82.06% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Medtronic
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: Medtronic released its fiscal 2026 “Precision with Purpose” Impact Report, highlighting more than 82 million patients served worldwide and progress toward its impact goals. While not a direct earnings catalyst, the report reinforces the company’s global scale and long-term healthcare impact. Medtronic Impact Report Highlights More Than 82 Million Patients Served Worldwide in Fiscal Year 2026
- Positive Sentiment: The American Medical Association granted permanent Category I CPT codes to Medtronic’s Altaviva tibial neuromodulation implant and Symplicity Spyral renal denervation system. Permanent reimbursement codes could improve physician adoption and commercial prospects for these products. Is Medtronic Undervalued Following Its Permanent CPT Code Win?
- Neutral Sentiment: Recent commentary describes MDT as a stable blue-chip dividend stock, with valuation and yield becoming more attractive after its 2026 decline. These are investor opinions rather than new company guidance or operating results. Better Dividend Play for Retirees: MDT or ABT?
- Neutral Sentiment: Analyst-oriented coverage notes that Medtronic recently exceeded quarterly earnings and revenue expectations, supporting the view that the company’s operating performance remains solid. However, no fresh earnings release or updated guidance was provided in these articles.
- Negative Sentiment: The CPT-code coverage notes that MDT remains below its recent highs, with weaker 30-day and year-to-date performance. That lingering underperformance may be keeping investors cautious even after the regulatory reimbursement win. Medtronic Share Performance Following Its CPT Code Win
Insiders Place Their Bets
Medtronic Trading Down 1.1%
Shares of Medtronic stock traded down $0.96 during trading hours on Tuesday, reaching $87.00. 52,133,676 shares of the company’s stock were exchanged, compared to its average volume of 9,832,688. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The firm has a market capitalization of $111.29 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.97 and a beta of 0.55. The company has a fifty day moving average of $90.22 and a 200-day moving average of $84.76. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.98 EPS for the current fiscal year.
Medtronic Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a yield of 3.3%. Medtronic’s payout ratio is 70.94%.
Analyst Upgrades and Downgrades
MDT has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America boosted their target price on shares of Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. Finally, UBS Group raised their price target on shares of Medtronic from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Nineteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.
Get Our Latest Analysis on MDT
Medtronic Profile
Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.
The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.
Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.
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