Tidal Investments LLC Purchases 43,207 Shares of Medtronic PLC $MDT

Key Points

• Tidal Investments increased its Medtronic stake by 17.5% in the second quarter, purchasing 43,207 shares and bringing its holdings to 290,007 shares valued at approximately $22.7 million. Institutional investors collectively own 82.06% of the company.
• Medtronic exceeded quarterly expectations with adjusted EPS of $1.45 and revenue of $9.76 billion, up 13.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $103.92.
• The company declared a quarterly dividend of $0.72 per share, equivalent to an annualized $2.88 payout and a 3.1% yield, while investors continue to monitor execution risks, competition and the sustainability of cardiovascular growth.

Tidal Investments LLC lifted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 17.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,007 shares of the medical technology company's stock after purchasing an additional 43,207 shares during the quarter. Tidal Investments LLC's holdings in Medtronic were worth $22,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. California State Teachers Retirement System boosted its holdings in shares of Medtronic by 7,655.7% during the 2nd 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 in the last quarter. BlackRock Inc. increased its stake in shares of 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 in the last quarter. State Street Corp lifted its position in Medtronic by 2.0% during 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 during the period. JPMorgan Chase & Co. lifted its position in Medtronic by 2.7% during 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 during the period. Finally, Capital Research Global Investors boosted its stake in Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company's stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Needham & Company LLC upped their price objective on shares of Medtronic from $101.00 to $114.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Sanford C. Bernstein lowered their target price on shares of Medtronic from $112.00 to $97.00 and set an "outperform" rating for the company in a report on Thursday, June 4th. Wells Fargo & Company boosted their price target on Medtronic from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. TD Cowen upped their price target on Medtronic from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Finally, Stifel Nicolaus raised their price objective on Medtronic from $80.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, September 2nd. Nineteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.92.

Medtronic Stock Performance

Shares of MDT stock opened at $91.60 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $87.75 and a 200-day moving average price of $85.13. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The firm has a market capitalization of $117.17 billion, a PE ratio of 22.56, a P/E/G ratio of 2.16 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company had revenue of $9.76 billion for the quarter, compared to analysts' expectations of $9.55 billion. During the same quarter last year, the company posted $1.26 earnings per share. The firm's quarterly revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.96 earnings per share for the current year.

Medtronic Announces Dividend

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

About Medtronic

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.

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.