CX Institutional Sells 86,818 Shares of Medtronic PLC $MDT

Key Points

• CX Institutional cut its Medtronic position by 89% in the third quarter, selling 86,818 shares and retaining 10,707 shares valued at approximately $924,000.
• Institutional investors collectively own 82.06% of Medtronic, with major holders including BlackRock, State Street, JPMorgan Chase, Capital Research Global Investors, and Bank of America increasing their positions.
• Medtronic reported quarterly revenue and EPS above analyst expectations, while analysts maintain a “Moderate Buy” consensus with an average price target of $103.92; the company also declared a quarterly dividend of $0.72 per share.

CX Institutional reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 89.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,707 shares of the medical technology company's stock after selling 86,818 shares during the period. CX Institutional's holdings in Medtronic were worth $924,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock valued at $8,919,846,000 after purchasing an additional 838,220 shares in the last quarter. State Street Corp grew its position in shares of Medtronic by 2.0% during the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company's stock worth $5,966,780,000 after buying an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Medtronic by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company's stock worth $5,150,420,000 after buying an additional 1,419,730 shares during the last quarter. Capital Research Global Investors increased its stake in shares of 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 buying an additional 3,880,174 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company's stock valued at $2,254,200,000 after acquiring an additional 1,343,220 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic News Roundup

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: TD Cowen reiterated a “Buy” rating on Medtronic, providing an analyst-confidence signal for the medical-device maker. Medtronic Earns Buy Rating from TD Cowen
• Positive Sentiment: The FDA granted breakthrough-device designation to Medtronic’s below-the-knee drug-coated balloon, potentially accelerating regulatory interaction and supporting the company’s peripheral vascular pipeline. Medtronic Receives Breakthrough Designation
• Positive Sentiment: The American Medical Association approved Category I CPT codes for the Altaviva tibial neuromodulation device and Symplicity Spyral renal-denervation system. The codes become effective in January 2028 and could improve reimbursement visibility and adoption over the long term. Medtronic CPT Code Approvals
• Positive Sentiment: New regulatory clearances for cardiac mapping and ablation software may strengthen Medtronic’s competitive position in the growing pulsed-field ablation market. Medtronic Cardiac Software Clearances
• Neutral Sentiment: A commentary argues that Medtronic’s dividend and defensive healthcare exposure could remain attractive if inflation and interest rates stay elevated, but it does not represent a new company-specific catalyst. Inflation and Dividend Stocks
• Neutral Sentiment: An investment opinion says Medtronic’s long-term strategy could still appeal to investors, although Johnson & Johnson’s stronger historical performance highlights execution concerns. Johnson and Johnson Compared With Medtronic
• Negative Sentiment: The $4 billion tax-free MiniMed exchange offer appears to be losing investor appeal. Reduced participation could make the split-off a weaker near-term catalyst and leave shareholders focused on execution and valuation risks. Medtronic MiniMed Exchange Offer
• Negative Sentiment: Medtronic’s stock has declined since its latest earnings report, with investors apparently looking for stronger forward earnings momentum despite the prior quarterly revenue and EPS beat. Medtronic Stock Since Earnings
• Negative Sentiment: Put-option volume was about 45% above average, indicating increased downside hedging or bearish positioning around MDT.

Insider Activity at Medtronic

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

Wall Street Analyst Weigh In

MDT has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $92.00 target price on shares of Medtronic in a research report on Thursday, September 3rd. Bank of America upped their target price on shares of Medtronic from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Robert W. Baird increased their price target 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. Finally, Needham & Company LLC reiterated a "buy" rating on shares of Medtronic in a research note on Thursday, September 17th. Nineteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $103.92.

Medtronic Stock Performance

Shares of MDT stock opened at $86.31 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. The business has a 50 day moving average of $90.15 and a two-hundred day moving average of $84.79. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a market cap of $110.40 billion, a P/E ratio of 21.26, a PEG ratio of 1.97 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $9.55 billion. During the same period in the prior year, the firm earned $1.26 EPS. The business's quarterly 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. As a group, analysts anticipate that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared 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 is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. Medtronic's dividend payout ratio is currently 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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