45,000 Shares of Medtronic PLC $MDT Bought by Sivik Global Healthcare LLC

Key Points

• Sivik Global Healthcare LLC bought 45,000 Medtronic shares worth approximately $3.9 million, making MDT 2.4% of its portfolio. Institutional investors and hedge funds collectively own 82.06% of the company.
• Medtronic exceeded quarterly earnings and revenue expectations, reporting $1.45 in EPS and $9.76 billion in revenue, up 13.7% year over year. The company also maintains a quarterly dividend of $0.72, yielding approximately 3.1% annually.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $102.88 price target, although increased short interest and BTIG’s target reduction to $99 highlight potential near-term concerns.

Sivik Global Healthcare LLC bought a new position in Medtronic PLC (NYSE:MDT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 45,000 shares of the medical technology company's stock, valued at approximately $3,883,000. Medtronic comprises about 2.4% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 19th biggest holding.

Other hedge funds have also made changes to their positions in the company. WCM Investment Management LLC acquired a new stake in shares of Medtronic during the first quarter worth approximately $965,922,000. First Eagle Investment Management LLC raised its stake in shares of 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 last quarter. Cullen Capital Management LLC acquired a new position in shares of Medtronic in the 2nd quarter worth approximately $202,764,000. State Street Corp boosted its holdings in shares of Medtronic by 2.7% in 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 in the last quarter. Finally, Amundi grew its position in Medtronic by 36.3% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: MiniMed exchange offer was oversubscribed: Medtronic announced it will exchange all of its remaining 252.8 million MiniMed Group NASDAQ: MMED shares. The transaction advances the separation of the diabetes-device business and could allow investors to value Medtronic’s continuing operations more directly. The reported 18.3% proration indicates demand exceeded the shares available in the offer. Medtronic Announces Preliminary Results of MiniMed Exchange Offer
• Positive Sentiment: Growth opportunities remain attractive: The global bioelectronic-medicine device market is projected to expand at approximately a 17% annual rate through 2030. Medtronic’s position in neuromodulation and closed-loop technologies could provide exposure to this expanding market. Global Bioelectronic Medicine Device Market 2026
• Neutral Sentiment: Valuation and outlook support the shares: Commentary highlights Medtronic’s modest valuation relative to the broader market and an improving growth outlook. Its latest reported quarter also exceeded earnings and revenue expectations, with revenue up 13.7% year over year. Medtronic’s Modest Valuation Meets an Improving Growth Outlook
• Negative Sentiment: Short interest increased significantly: A larger bearish position in MDT suggests some investors are positioning for weakness and may weigh on sentiment, despite the company’s fundamental catalysts. Medtronic Sees Significant Increase in Short Interest
• Negative Sentiment: BTIG lowered its price target: The firm reduced its target from $100 to $99, although it retained a “buy” rating. The cut signals somewhat less near-term upside and tempers the otherwise constructive analyst view. Medtronic Price Target Cut by BTIG Research

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. Mizuho set a $115.00 price target on Medtronic in a report on Wednesday, September 2nd. Piper Sandler reissued a "neutral" rating on shares of Medtronic in a research note on Monday, August 10th. BTIG Research reduced their price objective on Medtronic from $100.00 to $99.00 and set a "buy" rating on the stock in a research note on Monday. Bank of America increased their target price on Medtronic from $95.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Finally, UBS Group raised their target price on Medtronic from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Eighteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus target price of $102.88.

Insider Buying and Selling

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

Medtronic Price Performance

Shares of MDT stock traded up $0.31 during trading hours on Tuesday, reaching $92.24. 6,194,355 shares of the company were exchanged, compared to its average volume of 10,820,273. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock's fifty day moving average is $90.38 and its two-hundred day moving average is $84.80. The company has a market cap of $117.99 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.02 and a beta of 0.55. 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 released its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating 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 net margin of 13.93% and a return on equity of 14.78%. Medtronic's revenue was up 13.7% compared to the same quarter last year. During the same period in the prior 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 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic's dividend payout ratio (DPR) is presently 70.94%.

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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