Flputnam Investment Management Co. Has $1.97 Million Stock Holdings in Medtronic PLC $MDT

Key Points

• Flputnam Investment Management boosted its Medtronic stake by 287.4% in the fourth quarter, ending with 20,537 shares valued at about $1.97 million.
• Other institutional investors also increased positions in Medtronic, and hedge funds and institutions now own 82.06% of the company’s stock.
• Analyst sentiment remains mixed but generally positive, with Medtronic holding a Moderate Buy consensus rating and an average price target of $106.45, even as the stock faces near-term pressure ahead of its June 3 earnings report.

Flputnam Investment Management Co. increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 287.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,537 shares of the medical technology company's stock after buying an additional 15,236 shares during the period. Flputnam Investment Management Co.'s holdings in Medtronic were worth $1,973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company's stock worth $380,000 after purchasing an additional 381 shares during the period. Jump Financial LLC acquired a new position in shares of Medtronic in the 2nd quarter worth approximately $299,000. Main Street Financial Solutions LLC lifted its position in shares of Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company's stock worth $1,251,000 after purchasing an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC lifted its position in shares of Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company's stock worth $1,676,000 after purchasing an additional 3,376 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group restated a "hold" rating and issued a $95.00 price target on shares of Medtronic in a research report on Thursday, April 23rd. Citigroup dropped their price target 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. UBS Group dropped their price target on shares of Medtronic from $104.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company started coverage on shares of Medtronic in a research report on Friday, January 30th. They set an "overweight" rating and a $114.00 target price on the stock. Finally, Weiss Ratings downgraded shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and an average target price of $106.45.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s Evolut TAVR platform was highlighted for superior clinical outcomes, which could support the company’s competitive position in a market expected to grow from $7.0 billion in 2025 to $13.8 billion by 2035. Medtronic’s Evolut displays superior clinical outcomes
• Positive Sentiment: Some commentary suggests Medtronic may be trading closer to fair value after its recent pullback, with M&A activity, FDA clearances, and product strength providing longer-term upside potential. Medtronic's Fair Value Falls Between Caution And Optimism
• Neutral Sentiment: Analysts continue to frame Medtronic as a mixed story into earnings, with some seeing the stock as fairly valued after its decline and others watching whether acquisitions and new product approvals can offset slower growth. Can Medtronic (MDT) Close the Growth Gap With Its Bigger MedTech Rivals?
• Neutral Sentiment: Medtronic is scheduled to report earnings on June 3, and coverage ahead of the release has focused on expectations for a earnings decline, which is keeping sentiment cautious. Analysts Estimate Medtronic (MDT) to Report a Decline in Earnings: What to Look Out for
• Negative Sentiment: Investor sentiment remains pressured ahead of earnings, with the stock recently down over short time frames and a voluntary Class II software recall adding another near-term headwind. Medtronic (MDT) Valuation Check As Earnings Approach And M&A FDA Moves And Recall Shape Sentiment
• Negative Sentiment: Recent trading showed Medtronic slipping despite a broader market advance, reinforcing the view that investors are rotating out of the name until the earnings update provides more clarity. Medtronic (MDT) Stock Drops Despite Market Gains: Important Facts to Note

Medtronic Stock Performance

Shares of MDT stock opened at $75.56 on Friday. The firm has a market capitalization of $97.01 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62. The firm has a fifty day simple moving average of $82.63 and a two-hundred day simple moving average of $92.78. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $74.40 and a 12 month high of $106.33.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, March 27th. Medtronic's payout ratio is 79.11%.

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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