Keybank National Association OH Raises Holdings in Medtronic PLC $MDT

Key Points

• KeyBank increased its stake in Medtronic by 162.1% in Q4, adding 221,577 shares to hold 358,230 shares worth about $34.41 million.
• Medtronic beat Q results with EPS $1.36 (vs. $1.34 est.) and $9.02B revenue, provided FY‑2026 EPS guidance of 5.62–5.66, but shares have traded lower (down ~3.2%) amid investor caution.
• Outlook is mixed: regulatory and product wins (e.g., Affera Breakthrough designation and Stealth AXiS CE mark) could expand TAM, while analyst downgrades, a disclosed cybersecurity incident and recent underperformance are pressuring sentiment.

Keybank National Association OH increased its position in Medtronic PLC (NYSE:MDT - Free Report) by 162.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 358,230 shares of the medical technology company's stock after buying an additional 221,577 shares during the quarter. Keybank National Association OH's holdings in Medtronic were worth $34,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MDT. Corundum Trust Company INC purchased a new position in shares of Medtronic in the 3rd quarter worth $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic in the 4th quarter worth $27,000. Valley Wealth Managers Inc. purchased a new position in shares of Medtronic in the 3rd quarter worth $29,000. GoalVest Advisory LLC purchased a new position in shares of Medtronic in the 4th quarter worth $29,000. Finally, Board of the Pension Protection Fund acquired a new stake in Medtronic in the 4th quarter valued at $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Affera cardiac-platform progress — FDA Breakthrough Device designation for the Sphere‑9 VT catheter, CE mark for the Sphere‑360, encouraging early feasibility VT data and new AF trials point to potential market share gains in complex ablation (pulsed field and RF). These outcomes could meaningfully expand Medtronic’s electrophysiology TAM if later‑stage trials and approvals succeed. Affera Breakthrough: FDA Nod For Sphere-9 Could Be A Game Changer For Medtronic (MDT)
• Positive Sentiment: Stealth AXiS CE mark for surgical robotics — CE clearance for the integrated Stealth AXiS planning/navigation/robotics platform broadens Medtronic’s addressable market in spine and cranial procedures and accelerates European commercialization after recent U.S. clearances. This supports recurring consumable and system revenue opportunities. Medtronic announces CE Mark for Stealth AXiS™ surgical system
• Positive Sentiment: Long‑term CGM market growth tailwind — Forecasted expansion in the Middle East & Africa continuous glucose monitoring market underscores broader secular demand for diabetes-management devices, which supports Medtronic’s diabetes strategy over the next decade. Middle East and Africa Continuous Glucose Monitoring Market Forecast and Company Analysis Report 2026-2034 Featuring Dexcom, Medtronic...
• Neutral Sentiment: Mixed analyst views — Some coverage shows divergent opinions on MDT’s near‑term trajectory; analysts’ feedback is varied, reflecting different assumptions on Diabetes unit execution and timing of product commercialization. This leaves consensus estimates and guidance sensitivity elevated. Analysts’ Opinions Are Mixed on These Healthcare Stocks: Medtronic (MDT)...
• Neutral Sentiment: Sector context — Peer (J&J) commentary points to improving medtech demand but lingering geographic headwinds (e.g., China), suggesting macro/industry forces could influence Medtronic’s execution. J&J Sees Continued MedTech Improvement in Q1, Eyes Better 2026
• Negative Sentiment: Analyst downgrades and price‑target cuts — UBS lowered its price target (from $104 to $90) and Jefferies/others trimmed views amid diabetes‑unit uncertainty, pressuring sentiment and near‑term share performance. UBS and Jefferies Lower Views on Medtronic (MDT) Amid Diabetes Unit Changes
• Negative Sentiment: Cybersecurity incident disclosed — Medtronic reported unauthorized access to certain IT systems; the company says no patient‑safety or material financial impact is expected but ongoing reviews create uncertainty around data/privacy risk and potential remediation costs. Medtronic Cyber Breach Meets Cardiac Breakthroughs And Pressured Share Price
• Negative Sentiment: Recent stock underperformance and elevated volume — MDT has traded below its recent moving averages with higher-than-average volume, reflecting investor caution as the market digests earnings, guidance, analyst revisions and the items above. Medtronic (MDT) Falls More Steeply Than Broader Market: What Investors Need to Know

Medtronic Stock Down 3.2%

Shares of Medtronic stock opened at $79.32 on Thursday. The business has a 50-day moving average of $88.77 and a 200-day moving average of $94.91. 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 company has a market capitalization of $101.84 billion, a PE ratio of 22.09, a P/E/G ratio of 2.15 and a beta of 0.75. Medtronic PLC has a 1-year low of $78.91 and a 1-year high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company's revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.57 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. Medtronic's dividend payout ratio (DPR) is currently 79.11%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MDT shares. Needham & Company LLC reiterated a "buy" rating and issued a $120.00 price target on shares of Medtronic in a report on Thursday, March 26th. William Blair upgraded Medtronic from a "market perform" rating to an "outperform" rating in a report on Tuesday, January 6th. Stifel Nicolaus lowered their price target on Medtronic from $105.00 to $95.00 and set a "hold" rating for the company in a report on Monday, April 6th. Barclays increased their price target on Medtronic from $118.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday, April 1st. Finally, Argus lowered their price target on Medtronic from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $107.80.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

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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