Medtronic PLC $MDT Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Medtronic stake by 9.4% in the second quarter, selling 639,262 shares and retaining 6.17 million shares valued at approximately $483 million. Institutional investors and hedge funds collectively own 82.06% of the company.
• Medtronic reported stronger-than-expected quarterly results, with adjusted EPS of $1.45 versus the $1.39 consensus and revenue of $9.76 billion, up 13.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $103.92.
• The company declared a quarterly dividend of $0.72 per share, equivalent to $2.88 annually and a 3.2% yield; the dividend is payable October 16 to shareholders of record as of September 25.

Envestnet Asset Management Inc. decreased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,173,570 shares of the medical technology company's stock after selling 639,262 shares during the period. Envestnet Asset Management Inc. owned about 0.48% of Medtronic worth $482,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MDT. State Street Corp lifted its position in Medtronic by 2.7% during the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company's stock worth $5,005,320,000 after buying an additional 1,658,301 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in Medtronic in the second quarter valued at $48,000. Wellington Altus USA Inc. lifted its position in Medtronic by 18.1% in the second quarter. Wellington Altus USA Inc. now owns 2,294 shares of the medical technology company's stock valued at $199,000 after buying an additional 351 shares during the last quarter. Bullseye Investment Management LLC purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $45,000. Finally, Keystone Financial Planning Inc. purchased a new position in shares of Medtronic during the second quarter worth $9,889,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT stock opened at $89.28 on Thursday. The stock's 50-day moving average is $89.48 and its two-hundred day moving average is $84.84. 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 1 year low of $73.31 and a 1 year high of $106.33. The firm has a market cap of $114.20 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 2.07 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The firm had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $9.55 billion. During the same period in the prior year, the firm earned $1.26 EPS. The business's revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Analysts predict that Medtronic PLC will post 5.97 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic's payout ratio is presently 70.94%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the firm's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president directly owned 42,186 shares of the company's stock, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: An analyst initiated coverage with a Buy rating and a $106.33 price target, implying approximately 17% upside. The bullish view cites Medtronic’s roughly 3% dividend yield, strong free-cash-flow growth, 7% normalized first-quarter revenue growth, and strength in its Cardiovascular and Neuroscience businesses. Medtronic: Buy The 3% Yield And Strong Free Cash Flow Growth
• Positive Sentiment: Medtronic’s fiscal 2027 first-quarter earnings beat expectations and prompted multiple Wall Street firms to raise their price targets. Analysts cited broadening growth and stronger operating execution, supporting the argument that the company’s turnaround is gaining traction. Medtronic Q1 Beat Sparks Target Hikes
• Positive Sentiment: Recent commentary highlights improving results, dividend income, and the potential for higher-margin recurring revenue to support longer-term profitability. Medtronic: The Turnaround Is No Longer Quiet
• Neutral Sentiment: The appointment of a new vice president of global manufacturing could support operational execution, but the announcement does not materially change near-term earnings expectations. Medtronic Has a New VP of Global Manufacturing
• Negative Sentiment: Wall Street remains divided on whether Medtronic’s improving growth can justify a significant valuation re-rating. Margin expansion is expected to develop gradually as the product mix shifts, limiting the immediate upside from the turnaround. Why Medtronic Fell More Than the Broader Market

Analyst Ratings Changes

A number of research analysts recently weighed in on MDT shares. TD Cowen lifted their price objective on shares of Medtronic from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, August 28th. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. Royal Bank Of Canada reiterated an "outperform" rating and set a $118.00 price target on shares of Medtronic in a report on Wednesday, September 2nd. BTIG Research boosted their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, September 1st. Finally, Mizuho set a $115.00 price target on Medtronic in a research note on Wednesday, September 2nd. Nineteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.92.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

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.