Allworth Financial LP Reduces Stock Position in Medtronic PLC $MDT

Key Points

• Allworth Financial cut its Medtronic stake by 42.4% in the second quarter, selling 36,596 shares and retaining 49,775 shares valued at approximately $3.9 million.
• Medtronic reported quarterly revenue of $9.76 billion and adjusted earnings of $1.45 per share, beating estimates, while raising its fiscal 2027 outlook amid strong cardiovascular growth.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and average price target of $103.92; the company also offers a 3.1% dividend yield after 49 consecutive years of dividend increases.

Allworth Financial LP cut its stake in Medtronic PLC (NYSE:MDT - Free Report) by 42.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,775 shares of the medical technology company's stock after selling 36,596 shares during the quarter. Allworth Financial LP's holdings in Medtronic were worth $3,894,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Monetary Solutions Ltd acquired a new stake in Medtronic during the fourth quarter worth $27,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $29,000. IAG Wealth Partners LLC purchased a new stake in Medtronic in the 2nd quarter valued at about $30,000. Imprint Wealth LLC purchased a new stake in Medtronic in the 3rd quarter valued at about $31,000. Finally, Basepoint Wealth LLC acquired a new position in Medtronic in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analyst maintains Buy rating: William Blair analyst Brandon Vazquez reaffirmed a Buy rating, citing Medtronic’s strong fiscal 2027 outlook and an attractive risk/reward profile. Analyst Brandon Vazquez Reaffirms Buy on Medtronic
• Positive Sentiment: Cardiovascular growth is accelerating: Medtronic’s heart-device businesses are outperforming the broader med-tech sector, helping drive fiscal 2027 first-quarter revenue of approximately $9.8 billion and 13.7% organic growth. Demand was particularly strong in cardiovascular products. Medtronic’s Heart Devices Are Suddenly Outgrowing the Rest of Med-Tech
• Positive Sentiment: Fiscal 2027 outlook raised: Management increased its organic revenue-growth forecast and raised the lower end of its adjusted earnings outlook after exceeding quarterly expectations. The broad-based growth supports the case for improving business momentum. Medtronic Raises 2027 Outlook as Broad-Based Growth Gains Momentum
• Neutral Sentiment: Income appeal remains notable: Medtronic has increased its dividend for 49 consecutive years and offers a yield near 3%, putting it within two years of potential Dividend King status. This may support demand from income-focused investors, although dividend-related news is unlikely to be a major near-term catalyst. Medtronic Is on the Cusp of Becoming a Dividend King
• Negative Sentiment: Execution risks remain: Analysts and commentators question whether the cardiovascular growth rate can persist, particularly as Medtronic faces margin pressure, competition and the approaching exit from its diabetes business. A reporting period with an extra selling week also makes the headline growth rate somewhat easier to achieve. Medtronic Raised its Outlook as Heart Devices Accelerate

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MDT shares. Leerink Partners lowered their target price on shares of Medtronic from $117.00 to $104.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Mizuho set a $115.00 price objective on shares of Medtronic in a report on Wednesday, September 2nd. Needham & Company LLC upped their price objective on shares of Medtronic from $101.00 to $114.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Truist Financial reaffirmed a "hold" rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. Nineteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $103.92.

Medtronic Stock Performance

Shares of MDT stock opened at $91.60 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The stock has a market capitalization of $117.17 billion, a PE ratio of 22.56, a P/E/G ratio of 2.16 and a beta of 0.56. The firm has a 50 day moving average of $87.75 and a two-hundred day moving average of $85.13.

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 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 for the quarter, compared to analyst estimates of $9.55 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The company's 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, research analysts predict that Medtronic PLC will post 5.96 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's payout ratio is currently 70.94%.

About Medtronic

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.

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