Nwam LLC trimmed its stake in shares of Medtronic PLC (NYSE:MDT – Free Report) by 77.9% during the second quarter, Holdings Channel reports. The firm owned 3,604 shares of the medical technology company’s stock after selling 12,669 shares during the period. Nwam LLC’s holdings in Medtronic were worth $282,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Medtronic in the 4th quarter valued at $1,653,485,000. WCM Investment Management LLC acquired a new position in Medtronic during the first quarter worth $965,922,000. Capital Research Global Investors lifted its holdings in shares of Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after acquiring an additional 2,658,981 shares during the period. Finally, Cullen Capital Management LLC acquired a new stake in shares of Medtronic in the 2nd quarter valued at $202,764,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Medtronic
In other Medtronic news, EVP Harry Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is owned by company insiders.
Medtronic Stock Up 0.7%
Medtronic (NYSE:MDT – Get Free Report) last released its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.89%. The company had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue 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. On average, analysts anticipate that Medtronic PLC will post 5.95 EPS for the current year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s payout ratio is 70.94%.
Trending Headlines about Medtronic
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: Medtronic’s fiscal first-quarter results exceeded expectations, with adjusted EPS of $1.45 versus the $1.39 consensus and revenue of $9.76 billion versus $9.55 billion expected. Revenue increased 13.7% year over year, while management raised its fiscal 2027 outlook to approximately $5.94-$6.00 in EPS. Medtronic Begins Fiscal 2027 With a Beat-and-Raise
- Positive Sentiment: Analysts responded favorably to the earnings beat and raised guidance. RBC reaffirmed its Outperform rating with a $118 price target, while TD Cowen maintained a Buy rating; other firms also increased their targets. Medtronic Analysts Raise Their Forecasts
- Positive Sentiment: Management highlighted broad-based growth across major franchises and newer platforms, including robotics and ablation. Investors view this as evidence that Medtronic’s multiyear growth recovery may be gaining momentum. MDT Earnings Call Focuses on Broad Growth
- Positive Sentiment: A PERSIST addendum study is generating additional real-world evidence for Medtronic’s Inceptiv spinal cord stimulation system, potentially strengthening physician adoption and investor confidence. Medtronic’s PERSIST Study
- Positive Sentiment: Medtronic entered a strategic partnership with Cornerstone Robotics intended to expand global access to robot-assisted surgery, supporting its long-term robotics strategy. Cornerstone Robotics Partnership
- Negative Sentiment: Market strategists warned that Medtronic has become a crowded healthcare-sector trade. The recommendation included using options to bet on a decline, reflecting concern that excessive bullish positioning could limit further gains or trigger a pullback. Crowded Healthcare Stocks
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on MDT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $92.00 target price on shares of Medtronic in a report on Thursday. The Goldman Sachs Group reduced their price target on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Bank of America upped their price objective on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a research note on Wednesday. Finally, UBS Group boosted their target price on Medtronic from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Nineteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.92.
Get Our Latest Analysis on Medtronic
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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