Concurrent Investment Advisors LLC Decreases Stock Holdings in Medtronic PLC $MDT

Key Points

• Concurrent Investment Advisors cut its Medtronic stake by 21.7% in the second quarter, selling 18,433 shares and retaining 66,494 shares valued at approximately $5.2 million. Institutional investors collectively own 82.06% of MDT.
• Medtronic reported stronger-than-expected quarterly results, with EPS of $1.45 versus $1.39 expected and revenue of $9.76 billion, up 13.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $103.92.
• The company declared a quarterly dividend of $0.72 per share, equivalent to $2.88 annually and a 3.1% yield, while bullish analyst sentiment and clinical evidence for its Inceptiv spinal-cord stimulation system support the outlook.

Concurrent Investment Advisors LLC reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 21.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,494 shares of the medical technology company's stock after selling 18,433 shares during the period. Concurrent Investment Advisors LLC's holdings in Medtronic were worth $5,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Medtronic during the 4th quarter valued at about $1,653,485,000. WCM Investment Management LLC acquired a new stake in Medtronic in the first quarter worth about $965,922,000. Capital Research Global Investors boosted its holdings in Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company's stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Medtronic by 35.3% during 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 acquiring an additional 2,658,981 shares during the last quarter. Finally, Cullen Capital Management LLC purchased a new stake in shares of Medtronic during the second quarter worth about $202,764,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. Bank of America increased their price objective on shares of Medtronic from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday. Robert W. Baird boosted their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 2nd. Weiss Ratings upgraded shares of Medtronic from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday. BTIG Research raised their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group dropped their price objective on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating on the stock in a report 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. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $103.92.

Medtronic Stock Performance

Shares of MDT stock opened at $94.12 on Monday. The stock has a market cap 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. The business has a 50-day simple moving average of $86.78 and a 200-day simple moving average of $85.27. 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.

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

Medtronic Dividend Announcement

The business 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 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic's dividend payout ratio is currently 70.94%.

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic said executives will present at the Wells Fargo Healthcare Conference on September 8 and other upcoming investor events. These appearances could provide additional updates on growth initiatives, product launches, and financial guidance. Medtronic executives to speak at upcoming investor conferences
• Positive Sentiment: Royal Bank of Canada reaffirmed its Outperform rating, while Stifel Nicolaus, Robert W. Baird, TD Cowen, and BTIG Research maintained bullish assessments or projected meaningful price appreciation. The broad analyst support reinforces investor confidence in MDT’s outlook. Royal Bank of Canada reaffirms Outperform rating
• Positive Sentiment: New real-world evidence from Medtronic’s PERSIST addendum study is supporting the company’s Inceptiv spinal cord stimulation system. Further clinical validation could improve adoption prospects and strengthen the pain-management franchise. Medtronic’s PERSIST study builds real-world evidence
• Positive Sentiment: Medtronic’s latest reported quarter exceeded expectations, with earnings of $1.45 per share versus a $1.39 consensus estimate and revenue of $9.76 billion versus $9.55 billion expected. Revenue increased 13.7% year over year, providing a favorable fundamental backdrop.
• Neutral Sentiment: Unusually large options trading indicates elevated investor interest in MDT, but the activity does not by itself establish whether traders expect further gains or a pullback. Medtronic target of unusually large options trading
• Negative Sentiment: A MarketWatch strategy highlighted Medtronic as a healthcare stock that may be overcrowded, recommending a bearish options position because many investors have already bet on additional gains. This raises the risk of profit-taking or volatility despite the positive fundamental and analyst backdrop. Healthcare stocks may be too crowded to own

Medtronic 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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