Van ECK Associates Corp reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 95.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,566 shares of the medical technology company's stock after selling 2,512,360 shares during the period. Van ECK Associates Corp's holdings in Medtronic were worth $8,806,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after buying an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the fourth quarter worth $27,000. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic in the 4th quarter valued at $29,000. IAG Wealth Partners LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Medtronic Price Performance
Shares of NYSE MDT opened at $91.92 on Wednesday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $117.66 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.43 and a beta of 0.56. The business has a 50 day simple moving average of $86.03 and a 200-day simple moving average of $85.42.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $9.76 billion for the quarter, compared to analysts' expectations of $9.55 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm's revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the business posted $1.26 earnings per share. 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 5.94 earnings per share for the current year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given 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 presently 77.21%.
Medtronic News Summary
Here are the key news stories impacting Medtronic this week:
- Positive Sentiment: Q1 results exceeded expectations. Medtronic reported adjusted earnings of $1.45 per share versus the $1.39 consensus estimate, while revenue rose 13.7% year over year to $9.76 billion, ahead of the $9.55 billion forecast. Growth was broad-based, led by Cardiovascular revenue up 19.5%, Diabetes up 16.9%, Neuroscience up 10.3% and Medical Surgical up 10.0%. Reuters: Medtronic boosts fiscal 2027 forecasts on heart device demand
- Positive Sentiment: Management raised its full-year outlook. Medtronic increased its fiscal 2027 organic revenue-growth forecast to 7.25%-7.75% and now expects adjusted EPS of $5.94-$6.00. The guidance increase reinforces investor confidence in demand for heart devices, newer growth platforms and recent portfolio investments. Medtronic fiscal 2027 results and guidance
- Positive Sentiment: Robotics and structural-heart investments broaden Medtronic’s growth opportunities. The company committed approximately $700 million to Cornerstone Robotics, gaining distribution rights for its Sentire surgical system in select markets outside the U.S. Medtronic also announced an investment of up to $80 million in Pi-Cardia, supporting complex transcatheter aortic valve replacement procedures. Medtronic Cornerstone Robotics partnership
- Positive Sentiment: Analyst sentiment improved. BTIG raised its price target from $91 to $100 and maintained a Buy rating, while William Blair reiterated its Buy rating, citing cardiovascular expansion and the robotics strategy as sources of longer-term upside.
- Neutral Sentiment: Management’s second-quarter fiscal 2027 EPS guidance of $1.32-$1.34 was slightly below the $1.35 consensus estimate, though the full-year forecast was broadly in line with expectations after the upgrade.
- Neutral Sentiment: Broader healthcare stocks also advanced, providing a supportive sector backdrop, while the wider market was weaker. However, MDT’s earnings, guidance and strategic announcements were the primary stock-specific catalysts.
Insider Activity
In other news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic 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 completion of the transaction, the executive vice president directly owned 37,227 shares of the company's stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Sanford C. Bernstein lowered their price target on Medtronic from $112.00 to $97.00 and set an "outperform" rating for the company in a report on Thursday, June 4th. TD Cowen boosted their price objective on Medtronic from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Medtronic in a research report on Tuesday, August 18th. Jefferies Financial Group reiterated a "hold" rating and issued a $88.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Finally, Needham & Company LLC boosted their price target on Medtronic from $101.00 to $114.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Eighteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.17.
View Our Latest Stock Report on MDT
About Medtronic
(
Free Report)
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).
Further Reading
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