USS Investment Management Ltd Has $212.38 Million Stake in Medtronic PLC $MDT

Key Points

• USS Investment Management Ltd increased its Medtronic stake by 7.7% in the first quarter, holding 2.45 million shares valued at about $212.4 million. Medtronic now makes up roughly 0.9% of the fund’s portfolio.
• Wall Street sentiment remains moderately positive, with 17 analysts rating Medtronic a Buy and 10 a Hold. The stock’s consensus rating is Moderate Buy, with an average price target of $99.
• Medtronic recently beat quarterly earnings expectations and raised its dividend to $0.72 per share from $0.71, but the stock has still been under pressure and was trading below its 200-day moving average.

USS Investment Management Ltd grew its position in Medtronic PLC (NYSE:MDT - Free Report) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,451,244 shares of the medical technology company's stock after purchasing an additional 175,371 shares during the quarter. Medtronic makes up about 0.9% of USS Investment Management Ltd's portfolio, making the stock its 16th largest position. USS Investment Management Ltd owned 0.19% of Medtronic worth $212,376,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Medtronic during the fourth quarter valued at $1,653,485,000. Capital Research Global Investors raised its position in shares of Medtronic by 12.6% in the 4th 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. Barclays PLC lifted its stake in shares of Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company's stock valued at $650,604,000 after purchasing an additional 3,492,192 shares during the period. Schroder Investment Management Group boosted its position in shares of Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company's stock valued at $717,143,000 after purchasing an additional 3,307,211 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Medtronic by 35.3% during the 3rd 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. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MDT shares. Piper Sandler reiterated a "neutral" rating and issued a $85.00 target price on shares of Medtronic in a report on Tuesday, June 16th. Mizuho cut their price target on Medtronic from $120.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, June 3rd. Rothschild & Co Redburn reduced their price objective on shares of Medtronic from $111.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, June 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $118.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.00.

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Some recent commentary argues Medtronic looks undervalued after its pullback, with bullish write-ups pointing to attractive valuation metrics and the company’s defensive healthcare profile as reasons the stock could offer upside from current levels. Article Title
• Positive Sentiment: Medtronic has also been highlighted by some investors as a long-term holding, helped by the company’s recent FDA 510(k) clearance for its Nellcor pulse oximetry system, which could support its product pipeline and reinforce confidence in future innovation. Article Title
• Positive Sentiment: Several bullish opinion pieces published over the past two days framed MDT as a potentially appealing buy for income and value-oriented investors, which may be helping offset some of the weakness from broader market sentiment. Article Title
• Neutral Sentiment: Other coverage focused on how Medtronic compares with peers like Globus Medical, with analysts suggesting Medtronic may have less upside than faster-growing rivals. That comparison could weigh on sentiment, but it was more of a relative valuation discussion than a direct company-specific setback. Article Title
• Negative Sentiment: Despite the bullish commentary, the stock has been trending lower recently, and a market recap noted MDT’s shares fell while the broader market gained, reinforcing concerns that investors may still be cautious about near-term growth and momentum. Article Title

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business'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 completion of the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company's stock.

Medtronic Stock Down 3.3%

MDT stock opened at $78.25 on Wednesday. The stock's 50 day simple moving average is $79.14 and its 200 day simple moving average is $89.37. The company has a market cap of $100.17 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

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

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Medtronic's previous quarterly dividend of $0.71. Medtronic's payout ratio is 77.21%.

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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