National Pension Service Purchases 28,269 Shares of Medtronic PLC $MDT

Key Points

• National Pension Service boosted its Medtronic stake by 1.0% in the fourth quarter, buying 28,269 more shares and bringing its total to 2,982,411 shares worth about $286.5 million.
• Institutional ownership of Medtronic remains very high at 82.06%, and several other investors also added or initiated positions during the period.
• Medtronic faces a mixed near-term outlook: analysts are generally positive on the stock, but sentiment is cautious ahead of its June 3 earnings report amid concerns about slower growth and a recent software recall.

National Pension Service increased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,982,411 shares of the medical technology company's stock after acquiring an additional 28,269 shares during the quarter. National Pension Service owned about 0.23% of Medtronic worth $286,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lodestone Wealth Management LLC bought a new position in Medtronic during the 4th quarter worth approximately $27,000. Anfield Capital Management LLC raised its position in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after purchasing an additional 230 shares during the period. Valley Wealth Managers Inc. acquired a new stake in shares of Medtronic during the third quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic during the fourth quarter worth about $29,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $29,000. Institutional investors own 82.06% of the company's stock.

Medtronic News Summary

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

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Barclays raised their price target on Medtronic from $118.00 to $120.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 1st. Leerink Partners reiterated an "outperform" rating and issued a $119.00 price target on shares of Medtronic in a report on Tuesday, March 10th. Needham & Company LLC reissued a "buy" rating and set a $120.00 price objective on shares of Medtronic in a research report on Thursday, March 26th. Robert W. Baird raised their price objective on shares of Medtronic from $92.00 to $93.00 and gave the stock a "neutral" rating in a report on Wednesday, April 15th. Finally, CICC Research initiated coverage on shares of Medtronic in a report on Friday, January 30th. They set an "outperform" rating on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $106.45.

Medtronic Trading Down 0.6%

Shares of NYSE:MDT opened at $75.56 on Friday. Medtronic PLC has a 12 month low of $74.40 and a 12 month high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company's fifty day simple moving average is $82.63 and its 200 day simple moving average is $92.78. The firm has a market cap of $97.01 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.81 and a beta of 0.62.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, March 27th. Medtronic's dividend payout ratio (DPR) is presently 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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