Medtronic PLC $MDT Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management reduced its Medtronic stake by 6.6% in the second quarter, selling 21,296 shares and retaining 299,948 shares valued at approximately $23.5 million. Institutional investors and hedge funds collectively own 82.06% of the stock.
• Medtronic reported quarterly earnings and revenue above expectations, with EPS of $1.45 and revenue of $9.76 billion, while year-over-year revenue rose 13.7%. Management also raised its fiscal 2027 outlook, supporting expectations for continued turnaround momentum.
• The stock traded at $89.28, while analysts maintained a broadly positive outlook with a consensus “Moderate Buy” rating and a $103.92 price target. Medtronic also declared a quarterly dividend of $0.72, representing a 3.2% annualized yield.

QRG Capital Management Inc. cut its stake in Medtronic PLC (NYSE:MDT - Free Report) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,948 shares of the medical technology company's stock after selling 21,296 shares during the period. QRG Capital Management Inc.'s holdings in Medtronic were worth $23,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock worth $8,919,846,000 after buying an additional 838,220 shares in the last quarter. State Street Corp raised its holdings in Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company's stock valued at $5,966,780,000 after acquiring an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 1,419,730 shares in the last quarter. Capital Research Global Investors lifted its stake in 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 worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 worth $2,665,832,000 after acquiring an additional 231,919 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: A Seeking Alpha analyst initiated coverage with a Buy rating and a $106.33 price target, implying approximately 17% upside, while highlighting Medtronic’s roughly 3% dividend yield and strong free-cash-flow growth. Medtronic: Buy The 3% Yield And Strong Free Cash Flow Growth
• Positive Sentiment: Medtronic’s fiscal 2027 first-quarter performance exceeded expectations, with normalized revenue growth of 7% and particular strength in its Cardiovascular and Neuroscience businesses. Management also raised revenue and earnings guidance, supporting the view that the turnaround is gaining momentum.
• Positive Sentiment: Several analysts raised their price targets following the quarterly results. Bullish investors argue that broader growth and a shift toward higher-margin recurring revenue could eventually improve profitability and the stock’s valuation. Medtronic Q1 Beat Sparks Target Hikes
• Positive Sentiment: Income-focused coverage continues to emphasize Medtronic’s dividend profile and status as a long-standing dividend payer, which may provide downside support for investors seeking healthcare income.
• Neutral Sentiment: Medtronic appointed a new vice president of global manufacturing. The leadership change could support operational execution, but the immediate financial impact is unclear. Medtronic Has a New VP of Global Manufacturing
• Negative Sentiment: Wall Street remains split on whether accelerating growth can produce a meaningful re-rating. Margin expansion is expected to develop gradually as product mix changes, limiting the near-term earnings catalyst.
• Negative Sentiment: Commentary describing Medtronic as a “quandary” reflects investor frustration that improved results have not yet translated into a stronger market valuation. This skepticism appears to be weighing on the shares despite the positive earnings and guidance trends. Jim Cramer Called Medtronic a Quandary

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. BTIG Research boosted their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, September 1st. Stifel Nicolaus raised their price objective on shares of Medtronic from $80.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. dropped their target price on Medtronic from $100.00 to $86.00 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Needham & Company LLC restated a "buy" rating on shares of Medtronic in a research note on Thursday, September 17th. Finally, Leerink Partners cut their price target on Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Nineteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.92.

Medtronic Stock Down 1.6%

MDT stock traded down $1.49 during midday trading on Wednesday, reaching $89.28. 10,532,060 shares of the company were exchanged, compared to its average volume of 8,928,205. 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 stock's 50-day simple moving average is $89.31 and its 200 day simple moving average is $84.87. The company has a market cap of $114.20 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.56.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, September 25th. Medtronic's dividend payout ratio is currently 70.94%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.

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