Fifth Third Bancorp Trims Position in Medtronic PLC $MDT

Key Points

• Fifth Third Bancorp cut its Medtronic stake by 26.2% in the second quarter, selling 55,387 shares and retaining 155,772 shares valued at approximately $12.2 million. Institutional investors collectively own 82.06% of Medtronic.
• Medtronic reported quarterly revenue of $9.81 billion, up 9.9% year over year, and adjusted earnings of $1.55 per share, slightly exceeding analyst expectations. The company also raised its quarterly dividend to $0.72 per share, producing an annualized yield of about 3.1%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $98.83, though several brokerages recently lowered their targets. Institutional positioning was mixed, while insider activity included an executive share sale.

Fifth Third Bancorp decreased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 26.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,772 shares of the medical technology company's stock after selling 55,387 shares during the quarter. Fifth Third Bancorp's holdings in Medtronic were worth $12,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MDT. North Dakota State Investment Board increased its stake in Medtronic by 2.6% in the second quarter. North Dakota State Investment Board now owns 38,133 shares of the medical technology company's stock valued at $2,983,000 after purchasing an additional 983 shares during the last quarter. USA Financial Formulas boosted its stake in Medtronic by 6.5% in the 1st quarter. USA Financial Formulas now owns 3,193 shares of the medical technology company's stock worth $277,000 after buying an additional 196 shares during the last quarter. Midwest Trust Co boosted its stake in Medtronic by 2.4% in the 2nd quarter. Midwest Trust Co now owns 257,916 shares of the medical technology company's stock worth $20,177,000 after buying an additional 6,071 shares during the last quarter. R Squared Ltd grew its holdings in Medtronic by 79.1% in the 2nd quarter. R Squared Ltd now owns 20,617 shares of the medical technology company's stock valued at $1,613,000 after buying an additional 9,104 shares during the period. Finally, 111 Capital purchased a new stake in Medtronic in the 2nd quarter valued at about $292,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic outperformed the broader market in the latest session, closing higher as investors focused on the company’s defensive medical-device exposure. Medtronic Advances While Market Declines
• Positive Sentiment: Seventeen analysts have issued targets over the past six months, with a median target of $101, implying additional upside from recent levels. Targets range widely, however, from $83 to $119. Medtronic Analyst Targets and Trading Data
• Neutral Sentiment: Value-focused coverage is comparing MDT with Agilent Technologies, indicating that investors are evaluating Medtronic’s valuation against peers rather than responding to a major new company-specific catalyst. MDT Versus Agilent for Value Investors
• Neutral Sentiment: Institutional positioning was mixed in the latest reported quarter: 998 investors increased holdings while 1,327 reduced positions, including sizable additions by JPMorgan and reductions by Capital Research and UBS. Medtronic Institutional Activity
• Negative Sentiment: Quiver estimated CEO Geoff Martha’s 2026 compensation at $22.9 million, up 7.4% year over year. It also reported eight open-market insider sales and no purchases over the past six months, which may raise governance and confidence concerns. Medtronic CEO Compensation and Insider Sales
• Negative Sentiment: BTIG reaffirmed a “buy” rating but set a $91 price target, below recent trading levels, signaling limited near-term upside in that analyst’s view. BTIG Reaffirms Medtronic Buy Rating

Medtronic Stock Performance

Medtronic stock opened at $92.22 on Wednesday. The stock's 50-day moving average is $83.60 and its 200-day moving average is $86.13. The company has a market cap of $118.04 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the previous year, the company posted $1.62 EPS. The company's revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's dividend payout ratio is presently 77.21%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDT. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medtronic from $100.00 to $78.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. The Goldman Sachs Group lowered their target price on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. TD Cowen dropped their price target on shares of Medtronic from $119.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Weiss Ratings downgraded shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Finally, Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a report on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.83.

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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