Engineers Gate Manager LP Buys 164,637 Shares of Medtronic PLC $MDT

Key Points

• Engineers Gate Manager LP increased its Medtronic stake by 2,177.7% in the second quarter, buying 164,637 shares and bringing its holdings to 172,197 shares worth approximately $13.47 million. Institutional investors collectively own 82.06% of MDT.
• Medtronic reported quarterly adjusted EPS of $1.45 and revenue of $9.76 billion, beating estimates, while revenue rose 13.7% year over year. Management raised its fiscal 2027 outlook, supported by accelerating cardiovascular-device growth.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and average price target of $103.92 versus the reported $91.60 share price. Medtronic also offers a 3.1% dividend yield, though investors remain mindful of margin pressure, competition and execution risks.

Engineers Gate Manager LP raised its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 2,177.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,197 shares of the medical technology company's stock after purchasing an additional 164,637 shares during the quarter. Engineers Gate Manager LP's holdings in Medtronic were worth $13,471,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MDT. California State Teachers Retirement System boosted its holdings in Medtronic by 7,655.7% in the 2nd quarter. California State Teachers Retirement System now owns 158,124,578 shares of the medical technology company's stock worth $12,370,086,000 after buying an additional 156,085,748 shares during the period. BlackRock Inc. raised its holdings in Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock valued at $8,919,846,000 after acquiring an additional 838,220 shares during the period. State Street Corp lifted its position in shares of Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company's stock valued at $5,966,780,000 after acquiring an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 valued at $5,150,420,000 after acquiring an additional 1,419,730 shares in the last quarter. Finally, Capital Research Global Investors boosted 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 acquiring an additional 3,880,174 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic News Summary

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group reissued a "hold" rating and set a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Bank of America upped their price target on Medtronic from $95.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. UBS Group lifted 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, September 3rd. Finally, Evercore set a $105.00 target price on shares of Medtronic in a research report on Monday, July 6th. Nineteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.92.

Medtronic Trading Down 0.3%

Shares of MDT opened at $91.60 on Friday. 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 company's fifty day moving average is $87.75 and its 200 day moving average is $85.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Sell-side analysts expect that Medtronic PLC will post 5.96 earnings per share 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 paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic's dividend payout ratio (DPR) is presently 70.94%.

Medtronic Profile

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.

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.