Amundi Has $455.62 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Amundi reduced its Medtronic stake by 4.1% in the second quarter, selling 246,196 shares. It still held 5.82 million shares worth approximately $455.6 million, while institutional investors collectively owned 82.06% of the company.
• Analysts maintain a generally positive outlook, with 19 Buy ratings and nine Holds. Medtronic has a consensus “Moderate Buy” rating and an average price target of $103.92.
• Medtronic exceeded quarterly expectations, reporting $1.45 in adjusted EPS and $9.76 billion in revenue, up 13.7% year over year. The company also declared a quarterly dividend of $0.72 per share, equal to a 3.1% annualized yield.

Amundi lessened its stake in Medtronic PLC (NYSE:MDT - Free Report) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,824,040 shares of the medical technology company's stock after selling 246,196 shares during the quarter. Amundi owned about 0.46% of Medtronic worth $455,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Monetary Solutions Ltd bought a new position in Medtronic during the 4th quarter worth approximately $27,000. Acumen Wealth Advisors LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $29,000. IAG Wealth Partners LLC acquired a new position in Medtronic during the second quarter valued at approximately $30,000. Imprint Wealth LLC bought a new stake in Medtronic in the third quarter valued at approximately $31,000. Finally, Basepoint Wealth LLC bought a new stake in Medtronic in the fourth quarter valued at approximately $32,000. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $118.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. UBS Group upped their price objective on shares of Medtronic from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on Medtronic from $100.00 to $86.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Weiss Ratings upgraded Medtronic from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. Finally, Leerink Partners decreased their target price on Medtronic from $117.00 to $104.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Nineteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.92.

Medtronic Stock Down 0.1%

Medtronic stock opened at $94.12 on Tuesday. The company has a 50 day moving average of $87.05 and a 200-day moving average of $85.25. 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 twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market capitalization of $120.39 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm's quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted $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. On average, equities research analysts anticipate that Medtronic PLC will post 5.96 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. 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 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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