Pictet Asset Management Holding SA Reduces Stake in Medtronic PLC $MDT

Key Points

• Pictet Asset Management trimmed its stake in Medtronic by 1.5% in Q4, selling 20,091 shares and leaving it with 1,310,512 shares (about 0.10% of the company) valued at roughly $125.9 million.
• Medtronic has near‑term growth and regulatory catalysts, including the commercial launch of its Adaptive Deep Brain Stimulation (aDBS) system in India and an FDA Breakthrough Device designation for the Sphere‑9 catheter, which may accelerate revenue and market‑share gains over time.
• EVP Harry Skip Kiil sold 52,524 shares on Feb. 19 for about $5.13 million (avg. $97.71), reducing his stake by ~61.6%; company insiders now own 0.26% of Medtronic.

Pictet Asset Management Holding SA lowered its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,310,512 shares of the medical technology company's stock after selling 20,091 shares during the quarter. Pictet Asset Management Holding SA owned about 0.10% of Medtronic worth $125,888,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Corundum Trust Company INC purchased a new position in Medtronic during the 3rd quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new position in Medtronic during the 4th quarter worth approximately $27,000. Valley Wealth Managers Inc. purchased a new position in Medtronic during the 3rd quarter worth approximately $29,000. Board of the Pension Protection Fund purchased a new position in Medtronic during the 4th quarter worth approximately $29,000. Finally, GoalVest Advisory LLC purchased a new position in Medtronic during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic launched its Adaptive Deep Brain Stimulation (aDBS) system in India, expanding commercialization of an advanced Parkinson’s therapy into a large, fast‑growing market — a clear revenue/market‑share growth catalyst over time. Read More.
• Positive Sentiment: Analyst/commentary pieces argue investor expectations are low for MDT and position that downside is limited while upside exists if growth accelerates or adoption of new devices outperforms. This framing can support a re-rate if short‑term execution signals improve. Read More.
• Positive Sentiment: Medtronic won an FDA Breakthrough Device designation for the Sphere‑9 catheter and reported clinical milestones tied to Affera — regulatory and clinical progress that could accelerate product timelines in cardiac arrhythmia treatments. Read More.
• Neutral Sentiment: New pulsed‑field ablation (PFA) and other cardiac device data from HRS 2026 highlight competitive dynamics (Boston Scientific, Abbott, Medtronic). Data may drive medium‑term market‑share shifts but doesn’t immediately change revenue until adoption/clearance progresses. Read More.
• Neutral Sentiment: Market commentary (Kalkine) reviews valuation and near‑term catalysts; useful for investors assessing risk/reward but not a direct driver of price action. Read More.
• Negative Sentiment: Medtronic disclosed a cybersecurity breach in portions of its IT systems. Management says manufacturing, distribution and patient‑facing devices were not affected and the impact is not expected to be material, but the incident raises reputational, remediation‑cost and data‑security concerns that can pressure the stock until details and remediation outcomes are clear. Read More.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MDT. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. CICC Research began coverage on Medtronic in a research note on Friday, January 30th. They set an "outperform" rating on the stock. Piper Sandler dropped their price target on Medtronic from $105.00 to $91.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 1st. Evercore set a $106.00 price target on Medtronic and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company began coverage on Medtronic in a research note on Friday, January 30th. They set an "overweight" rating and a $114.00 price target on the stock. Fifteen 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.com, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $107.80.

Medtronic Trading Down 0.5%

Shares of MDT stock opened at $82.89 on Tuesday. The business's 50 day moving average is $89.44 and its two-hundred day moving average is $95.12. Medtronic PLC has a twelve month low of $79.93 and a twelve month high of $106.33. The company has a market capitalization of $106.42 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 2.16 and a beta of 0.75. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

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. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period last year, the business posted $1.38 EPS. The company's revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts forecast that Medtronic PLC will post 5.57 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, March 27th. Medtronic's dividend payout ratio (DPR) is 79.11%.

Medtronic 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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