Saudi Central Bank Has $7.03 Million Holdings in Medtronic PLC $MDT

Key Points

• Saudi Central Bank increased its Medtronic stake by 89.9% during the second quarter, bringing its holdings to 89,872 shares valued at approximately $7.03 million. Institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly earnings of $1.45 per share on $9.76 billion in revenue, exceeding analyst expectations and marking 13.7% year-over-year revenue growth.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $103.92. The company also announced a $0.72 quarterly dividend, equivalent to a 3.1% yield.

Saudi Central Bank increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 89.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,872 shares of the medical technology company's stock after purchasing an additional 42,551 shares during the quarter. Saudi Central Bank's holdings in Medtronic were worth $7,031,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MDT. NBH Bank bought a new stake in Medtronic during the second quarter worth about $402,000. AlphaGrep UK Ltd acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $247,000. Markowski Investments bought a new stake in shares of Medtronic during the 2nd quarter worth approximately $45,000. Oakmont Investment Advisors Inc. acquired a new stake in shares of Medtronic in the 2nd quarter valued at approximately $2,101,000. Finally, MOR Wealth Management LLC bought a new position in shares of Medtronic in the second quarter valued at $378,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling

In related news, EVP Harry Kiil sold 4,189 shares of the company's stock in a transaction dated 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 owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic said executives will present at the Wells Fargo Healthcare Conference on September 8 and other upcoming investor events. These appearances could provide additional updates on growth initiatives, product launches, and financial guidance. Medtronic executives to speak at upcoming investor conferences
• Positive Sentiment: Royal Bank of Canada reaffirmed its Outperform rating, while Stifel Nicolaus, Robert W. Baird, TD Cowen, and BTIG Research maintained bullish assessments or projected meaningful price appreciation. The broad analyst support reinforces investor confidence in MDT’s outlook. Royal Bank of Canada reaffirms Outperform rating
• Positive Sentiment: New real-world evidence from Medtronic’s PERSIST addendum study is supporting the company’s Inceptiv spinal cord stimulation system. Further clinical validation could improve adoption prospects and strengthen the pain-management franchise. Medtronic’s PERSIST study builds real-world evidence
• Positive Sentiment: Medtronic’s latest reported quarter exceeded expectations, with earnings of $1.45 per share versus a $1.39 consensus estimate and revenue of $9.76 billion versus $9.55 billion expected. Revenue increased 13.7% year over year, providing a favorable fundamental backdrop.
• Neutral Sentiment: Unusually large options trading indicates elevated investor interest in MDT, but the activity does not by itself establish whether traders expect further gains or a pullback. Medtronic target of unusually large options trading
• Negative Sentiment: A MarketWatch strategy highlighted Medtronic as a healthcare stock that may be overcrowded, recommending a bearish options position because many investors have already bet on additional gains. This raises the risk of profit-taking or volatility despite the positive fundamental and analyst backdrop. Healthcare stocks may be too crowded to own

Medtronic Trading Up 1.1%

Shares of Medtronic stock opened at $94.12 on Friday. The business has a fifty day simple moving average of $86.78 and a two-hundred day simple moving average of $85.37. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market capitalization of $120.47 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 2.21 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.89%. 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 previous year, the business posted $1.26 earnings per share. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Research analysts forecast that Medtronic PLC will post 5.96 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic's payout ratio is presently 70.94%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MDT shares. Truist Financial restated a "hold" rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a report on Wednesday. Mizuho set a $115.00 price target on shares of Medtronic in a research note on Wednesday. Bank of America lifted their price objective on shares of Medtronic from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday. Jefferies Financial Group restated a "hold" rating and set a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Finally, Evercore set a $105.00 target price on shares of Medtronic in a report on Monday, July 6th. Nineteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.92.

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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