The Manufacturers Life Insurance Company Lowers Stock Holdings in Medtronic PLC $MDT

Key Points

• The Manufacturers Life Insurance Company trimmed its Medtronic stake by 0.6%, selling 34,792 shares and retaining 5.38 million shares worth approximately $420.8 million. Institutional investors collectively own 82.06% of the company.
• Medtronic exceeded quarterly expectations with earnings of $1.45 per share and revenue of $9.76 billion, while revenue rose 13.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $103.92.
• The company declared a $0.72 quarterly dividend, equivalent to $2.88 annually and a 3.1% yield. Growth is being supported by strong cardiovascular demand, though margin pressure, competition and the planned diabetes-business exit remain risks.

The Manufacturers Life Insurance Company reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 0.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,378,561 shares of the medical technology company's stock after selling 34,792 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.42% of Medtronic worth $420,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System boosted its stake in Medtronic by 7,655.7% during the second quarter. California State Teachers Retirement System now owns 158,124,578 shares of the medical technology company's stock valued at $12,370,086,000 after buying an additional 156,085,748 shares during the period. BlackRock Inc. increased its stake in Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock worth $8,919,846,000 after acquiring an additional 838,220 shares during the last quarter. State Street Corp raised its holdings in shares of Medtronic by 2.0% in the 4th 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 shares of Medtronic by 2.7% in the 4th 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. Finally, Capital Research Global Investors boosted its position in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company's stock valued at $3,321,101,000 after acquiring an additional 3,880,174 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MDT shares. Mizuho set a $115.00 price objective on shares of Medtronic in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $92.00 price target on shares of Medtronic in a research note on Thursday, September 3rd. Jefferies Financial Group restated a "hold" rating and set a $88.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a report on Monday, August 10th. Finally, BTIG Research increased their target price on Medtronic from $91.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, September 1st. Nineteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $103.92.

Medtronic Stock Performance

NYSE MDT opened at $91.60 on Friday. The company has a 50-day simple moving average of $87.75 and a two-hundred day simple moving average of $85.13. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The firm has a market cap of $117.17 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.16 and a beta of 0.56. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.Medtronic's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company 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 5.96 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is currently 70.94%.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analyst maintains Buy rating: William Blair analyst Brandon Vazquez reaffirmed a Buy rating, citing Medtronic’s strong fiscal 2027 outlook and an attractive risk/reward profile. Analyst Brandon Vazquez Reaffirms Buy on Medtronic
• Positive Sentiment: Cardiovascular growth is accelerating: Medtronic’s heart-device businesses are outperforming the broader med-tech sector, helping drive fiscal 2027 first-quarter revenue of approximately $9.8 billion and 13.7% organic growth. Demand was particularly strong in cardiovascular products. Medtronic’s Heart Devices Are Suddenly Outgrowing the Rest of Med-Tech
• Positive Sentiment: Fiscal 2027 outlook raised: Management increased its organic revenue-growth forecast and raised the lower end of its adjusted earnings outlook after exceeding quarterly expectations. The broad-based growth supports the case for improving business momentum. Medtronic Raises 2027 Outlook as Broad-Based Growth Gains Momentum
• Neutral Sentiment: Income appeal remains notable: Medtronic has increased its dividend for 49 consecutive years and offers a yield near 3%, putting it within two years of potential Dividend King status. This may support demand from income-focused investors, although dividend-related news is unlikely to be a major near-term catalyst. Medtronic Is on the Cusp of Becoming a Dividend King
• Negative Sentiment: Execution risks remain: Analysts and commentators question whether the cardiovascular growth rate can persist, particularly as Medtronic faces margin pressure, competition and the approaching exit from its diabetes business. A reporting period with an extra selling week also makes the headline growth rate somewhat easier to achieve. Medtronic Raised its Outlook as Heart Devices Accelerate

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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