Principal Financial Group Inc. Sells 228,558 Shares of Medtronic PLC $MDT

Key Points

• Principal Financial Group cut its Medtronic stake by 9.6%, selling 228,558 shares and retaining 2.15 million shares valued at approximately $168.3 million. Institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly revenue of $9.81 billion and EPS of $1.55, slightly exceeding analyst estimates, while revenue increased 9.9% year over year. The company also raised its quarterly dividend to $0.72 per share, providing a 3.1% annualized yield.
• Analyst sentiment remains cautiously positive, with a consensus “Moderate Buy” rating and average price target of $98.83, although several firms recently lowered their targets. Shares opened at $92.22, up 1.8% in the latest session.

Principal Financial Group Inc. reduced its stake in Medtronic PLC (NYSE:MDT - Free Report) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,151,376 shares of the medical technology company's stock after selling 228,558 shares during the quarter. Principal Financial Group Inc. owned 0.17% of Medtronic worth $168,302,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MDT. Fox Run Management L.L.C. raised its stake in shares of Medtronic by 364.9% in the 2nd quarter. Fox Run Management L.L.C. now owns 23,397 shares of the medical technology company's stock valued at $1,830,000 after purchasing an additional 18,364 shares during the period. Carret Asset Management LLC bought a new position in shares of Medtronic during the second quarter worth about $278,000. Nicholas Hoffman & Company LLC. raised its position in Medtronic by 27.7% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 19,853 shares of the medical technology company's stock valued at $1,553,000 after buying an additional 4,303 shares during the last quarter. Journey Advisory Group LLC lifted its stake in Medtronic by 2,312.5% in the 2nd quarter. Journey Advisory Group LLC now owns 62,121 shares of the medical technology company's stock valued at $4,901,000 after acquiring an additional 59,546 shares in the last quarter. Finally, Strive Financial Group LLC raised its holdings in shares of Medtronic by 8.4% in the second quarter. Strive Financial Group LLC now owns 3,588 shares of the medical technology company's stock valued at $281,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDT. The Goldman Sachs Group reduced their target price on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. JPMorgan Chase & Co. cut their price target on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. Evercore set a $105.00 price objective on Medtronic in a report on Monday, July 6th. Truist Financial dropped their target price on Medtronic from $95.00 to $86.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. Finally, Leerink Partners lowered their price target on Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and an average price target of $98.83.

Medtronic Trading Up 1.8%

Shares of NYSE:MDT opened at $92.22 on Wednesday. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The company has a market capitalization of $118.04 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a 50-day simple moving average of $83.60 and a 200 day simple moving average of $86.13.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's dividend payout ratio (DPR) is presently 77.21%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic outperformed the broader market in the latest session, closing higher as investors focused on the company’s defensive medical-device exposure. Medtronic Advances While Market Declines
• Positive Sentiment: Seventeen analysts have issued targets over the past six months, with a median target of $101, implying additional upside from recent levels. Targets range widely, however, from $83 to $119. Medtronic Analyst Targets and Trading Data
• Neutral Sentiment: Value-focused coverage is comparing MDT with Agilent Technologies, indicating that investors are evaluating Medtronic’s valuation against peers rather than responding to a major new company-specific catalyst. MDT Versus Agilent for Value Investors
• Neutral Sentiment: Institutional positioning was mixed in the latest reported quarter: 998 investors increased holdings while 1,327 reduced positions, including sizable additions by JPMorgan and reductions by Capital Research and UBS. Medtronic Institutional Activity
• Negative Sentiment: Quiver estimated CEO Geoff Martha’s 2026 compensation at $22.9 million, up 7.4% year over year. It also reported eight open-market insider sales and no purchases over the past six months, which may raise governance and confidence concerns. Medtronic CEO Compensation and Insider Sales
• Negative Sentiment: BTIG reaffirmed a “buy” rating but set a $91 price target, below recent trading levels, signaling limited near-term upside in that analyst’s view. BTIG Reaffirms Medtronic Buy Rating

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).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source