Cheviot Value Management LLC Trims Stake in Medtronic PLC $MDT

Key Points

• Cheviot Value Management sharply reduced its Medtronic stake by 90.4% in the fourth quarter, selling 88,892 shares and leaving it with 9,427 shares worth about $950,000.
• Medtronic reported better-than-expected quarterly results, with EPS of $1.36 versus $1.34 expected and revenue of $9.02 billion, up 5.8% year over year. The company also set FY 2026 EPS guidance at 5.620-5.660.
• The stock has come under pressure, recently trading near its 52-week low at $76.03, while analysts remain generally constructive with a consensus Moderate Buy rating and average price target of $107.80.

Cheviot Value Management LLC cut its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 90.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,427 shares of the medical technology company's stock after selling 88,892 shares during the period. Cheviot Value Management LLC's holdings in Medtronic were worth $950,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MDT. Barclays PLC lifted its position in Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company's stock valued at $650,604,000 after purchasing an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group increased its position in Medtronic by 78.3% in the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company's stock worth $717,143,000 after buying an additional 3,307,211 shares in the last quarter. Guinness Asset Management LTD purchased a new stake in Medtronic in the third quarter worth about $275,556,000. Wellington Management Group LLP raised its stake in shares of Medtronic by 35.3% in the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company's stock worth $970,456,000 after buying an additional 2,658,981 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Medtronic by 2,297.7% during the 4th quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company's stock valued at $241,179,000 after buying an additional 2,406,000 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Down 2.5%

MDT stock opened at $76.03 on Friday. The firm has a fifty day moving average price of $87.26 and a 200 day moving average price of $94.43. Medtronic PLC has a fifty-two week low of $75.91 and a fifty-two week high of $106.33. The firm has a market cap of $97.62 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Medtronic's revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Sell-side analysts anticipate that Medtronic PLC will post 5.57 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.7%. Medtronic's dividend payout ratio (DPR) is presently 79.11%.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic received the CE Mark for its Stealth AXiS system, adding to the earlier FDA approval and expanding the next-generation planning, navigation, and robotics platform into Europe. That strengthens the company’s surgical robotics and imaging portfolio and could support future procedure growth. Following FDA Approval, Medtronic (MDT) Receives CE Mark For Stealth AXiS System
• Positive Sentiment: Medtronic expanded its neuromodulation business by launching Adaptive Deep Brain Stimulation for Parkinson’s disease in India, which broadens its reach in a large and growing market and highlights continued innovation in its neurological therapies segment. Medtronic Expands Neuromodulation Reach With Adaptive DBS Launch In India
• Neutral Sentiment: Several articles focused on whether MDT looks attractive after recent share-price weakness and whether Wall Street’s bullish analyst views make the stock worth buying. These pieces can keep attention on the name, but they did not add new fundamental data. Is Medtronic (MDT) Offering Value After Recent Share Price Weakness? Is It Worth Investing in Medtronic (MDT) Based on Wall Street's Bullish Views?
• Neutral Sentiment: Third-party “best stocks” and retiree-income articles also mentioned Medtronic, which may provide some investor visibility, but these are largely promotional and not direct company-specific catalysts. 3 Healthcare Stocks Every Retiree Should Consider Better Than Intuitive Surgical? 1 Under-the-Radar Healthcare Stock to Buy and Hold Forever

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group cut their price objective on Medtronic from $104.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, April 22nd. Weiss Ratings cut shares of Medtronic from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, April 21st. Needham & Company LLC reiterated a "buy" rating and issued a $120.00 price target on shares of Medtronic in a research report on Thursday, March 26th. Jefferies Financial Group reissued a "hold" rating and issued a $95.00 price objective on shares of Medtronic in a research note on Thursday, April 23rd. Finally, Citigroup decreased their price objective on shares of Medtronic from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.80.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the transaction, the executive vice president owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

About Medtronic

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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