Todd Asset Management LLC Cuts Stock Holdings in Medtronic PLC $MDT

Key Points

• Todd Asset Management cut its Medtronic stake by 8.7% in the second quarter, selling 81,029 shares and retaining 849,171 shares valued at approximately $66.4 million. Institutional investors collectively own 82.06% of Medtronic.
• Medtronic exceeded quarterly expectations with adjusted earnings of $1.55 per share and revenue of $9.81 billion, up 9.9% year over year. The company also raised its quarterly dividend to $0.72 per share, representing a 3.1% annualized yield.
• Analyst sentiment remains positive but mixed, with a consensus “Moderate Buy” rating and an average price target of $98.83. Recent targets range from $85 to $102, while the stock recently traded at $92.22.

Todd Asset Management LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 849,171 shares of the medical technology company's stock after selling 81,029 shares during the quarter. Todd Asset Management LLC owned 0.07% of Medtronic worth $66,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in Medtronic during the 4th quarter worth $1,653,485,000. WCM Investment Management LLC purchased a new stake in shares of Medtronic in the first quarter valued at about $965,922,000. Capital Research Global Investors raised its holdings in shares of Medtronic by 12.6% in the fourth 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 purchasing an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company's stock valued at $970,456,000 after purchasing an additional 2,658,981 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company's stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE:MDT opened at $92.22 on Wednesday. The company has a market capitalization of $118.04 billion, a P/E ratio of 24.72, a P/E/G ratio of 2.45 and a beta of 0.55. The business has a fifty day simple moving average of $83.60 and a two-hundred day simple moving average of $86.13. 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 PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping 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 company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The firm's quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

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

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Medtronic from $114.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, June 4th. UBS Group raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $100.00 in a research report on Tuesday, July 28th. Mizuho cut their target price on Medtronic from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 3rd. Robert W. Baird decreased their price target on Medtronic from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, June 4th. Finally, Weiss Ratings downgraded Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.83.

Key Stories Impacting Medtronic

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).

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