13,074 Medtronic PLC $MDT Shares Acquired by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Medtronic stake by 14.2%, purchasing 13,074 shares to hold 105,147 shares valued at approximately $9.23 million. Institutional investors collectively own 82.06% of MDT.
• Analysts maintain a generally positive outlook, with Medtronic receiving a “Moderate Buy” consensus rating and an average price target of $102.88.
• Medtronic exceeded quarterly expectations, reporting $1.45 in EPS and $9.76 billion in revenue, while revenue grew 13.7% year over year. The company also declared a quarterly dividend of $0.72 per share, representing a 3.1% annualized yield.

NorthCrest Asset Manangement LLC grew its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,147 shares of the medical technology company's stock after buying an additional 13,074 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Medtronic were worth $9,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MDT. WCM Investment Management LLC acquired a new stake in Medtronic during the 1st quarter worth $965,922,000. First Eagle Investment Management LLC grew its stake in Medtronic by 37.2% in the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company's stock valued at $1,078,321,000 after acquiring an additional 3,739,288 shares during the period. Cullen Capital Management LLC acquired a new position in Medtronic in the second quarter valued at about $202,764,000. State Street Corp increased its holdings in shares of Medtronic by 2.7% in the second 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 in the last quarter. Finally, Amundi increased its holdings in shares of Medtronic by 36.3% in the first quarter. Amundi now owns 6,070,236 shares of the medical technology company's stock worth $525,986,000 after acquiring an additional 1,616,739 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MDT shares. Truist Financial reaffirmed a "hold" rating and set a $99.00 price target (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. UBS Group boosted their price objective on Medtronic from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Stifel Nicolaus increased their target price on Medtronic from $80.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, September 2nd. Piper Sandler restated a "neutral" rating on shares of Medtronic in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $92.00 target price on shares of Medtronic in a report on Thursday, September 3rd. Eighteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $102.88.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 42,186 shares of the company's stock, valued at $3,950,718.90. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic said its MiniMed exchange offer was oversubscribed and that it will exchange all of its remaining 252.8 million MiniMed shares. The transaction simplifies Medtronic’s portfolio and allows the company to focus more directly on its core medical-device operations. Medtronic Announces Preliminary Results of MiniMed Group Exchange Offer
• Positive Sentiment: The MiniMed offer had an 18.3% proration rate, indicating substantial investor demand to participate in the exchange. The result provides further clarity on the ownership transition and separation. Medtronic Reports 18.3 Percent MiniMed Proration
• Positive Sentiment: BTIG Research maintained a Buy rating while trimming its price target modestly to $99 from $100, still implying meaningful upside from the stock’s recent level. Medtronic Price Target Cut by BTIG Research
• Positive Sentiment: A new industry report projects the global bioelectronic-medicine device market to expand at approximately a 17% annual rate through 2030. Medtronic’s participation in neuromodulation and closed-loop technologies could provide a favorable long-term demand backdrop, although the report is not company-specific. Global Bioelectronic Medicine Device Market Report
• Neutral Sentiment: Medtronic’s valuation and improving growth outlook are attracting attention after a period of underperformance versus the broader market. The investment case depends on whether operational improvements can produce more consistent growth.
• Negative Sentiment: Short interest in Medtronic increased, signaling that more investors are betting against the shares and potentially creating future selling pressure. Medtronic Sees Increase in Short Interest

Medtronic Stock Up 3.5%

MDT stock opened at $91.61 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The stock has a market capitalization of $117.18 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.02 and a beta of 0.55. The business has a 50-day moving average of $90.38 and a 200-day moving average of $84.80. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

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 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 business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the company earned $1.26 earnings per share. Medtronic's quarterly revenue was up 13.7% on a year-over-year basis. 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, sell-side analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid 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 of this dividend is Friday, September 25th. Medtronic's dividend payout ratio (DPR) is currently 70.94%.

Medtronic Company 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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