Franklin Resources Inc. Increases Stock Position in Medtronic PLC $MDT

Key Points

• Franklin Resources increased its Medtronic stake by 6.7% in the fourth quarter, adding 775,182 shares and bringing its holding to 12.27 million shares worth about $1.18 billion.
• Other large institutional investors, including Vanguard, State Street, JPMorgan, Capital Research, and Geode, also boosted positions, and institutions now own 82.06% of Medtronic.
• Medtronic reported quarterly earnings that beat revenue estimates and slightly topped EPS expectations, while also raising its quarterly dividend to $0.72 per share for a 3.5% yield.

Franklin Resources Inc. boosted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,267,759 shares of the medical technology company's stock after buying an additional 775,182 shares during the quarter. Franklin Resources Inc. owned 0.96% of Medtronic worth $1,178,441,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MDT. Vanguard Group Inc. boosted its stake in shares of Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company's stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the period. State Street Corp boosted its stake in shares of Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company's stock valued at $5,800,550,000 after purchasing an additional 625,992 shares during the period. JPMorgan Chase & Co. boosted 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 valued at $5,150,420,000 after purchasing an additional 1,419,730 shares during the period. 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 valued at $3,321,101,000 after purchasing an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company's stock valued at $2,665,832,000 after purchasing an additional 231,919 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. TD Cowen reissued a "buy" rating and issued a $119.00 price objective on shares of Medtronic in a research note on Thursday. Daiwa Securities Group lowered their price objective on shares of Medtronic from $117.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Robert W. Baird lowered their price objective on shares of Medtronic from $93.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Finally, Weiss Ratings lowered shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Medtronic Stock Down 0.0%

Medtronic stock opened at $81.66 on Monday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The stock has a market cap of $104.84 billion, a PE ratio of 21.89, a P/E/G ratio of 1.99 and a beta of 0.58. The stock's fifty day moving average is $81.46 and its two-hundred day moving average is $92.01.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.Medtronic's quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. This is a boost from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is presently 76.14%.

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s fiscal Q4 results beat revenue expectations and showed continued year-over-year growth, while management signaled confidence in the company’s FY26/FY27 growth outlook and new product platforms. Medtronic (MDT) Climbs 5.7% on Stellar Q4
• Positive Sentiment: BTIG upgraded Medtronic to Buy with a $90 target, citing a strong revenue beat and improving organic growth, while other firms such as TD Cowen and RBC reaffirmed bullish ratings. Wall Street May Be Mispricing Medtronic, Analyst Says
• Positive Sentiment: Medtronic expanded its relationship with Retia Medical to distribute the Argos Cardiac Output Monitor across Western Europe, adding to its cardiovascular portfolio and international reach. Retia Medical Expands Distribution of Argos® Cardiac Output Monitor to Western Europe with Medtronic
• Positive Sentiment: Medtronic also announced a higher quarterly dividend, signaling confidence in cash generation and shareholder returns. Medtronic (MDT) Climbs 5.7% on Stellar Q4
• Neutral Sentiment: Several brokerages lowered price targets after earnings, but most still kept Buy/Outperform or Hold/Neutral ratings, suggesting a reset in expectations rather than a major change in long-term views. Rothschild & Co Redburn cuts Medtronic price target
• Neutral Sentiment: Analyst roundups highlighted that Wall Street’s average recommendation remains Buy, but those consensus ratings are often viewed as overly optimistic and not always predictive. Is Medtronic (MDT) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: Medtronic is still dealing with ongoing cardiovascular device recalls tied to potential sterile barrier issues, which could weigh on investor sentiment and create some execution risk. Medtronic Balances Hugo Robotics Expansion With Ongoing Cardiovascular Device Recalls

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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