VIRGINIA RETIREMENT SYSTEMS ET Al Invests $4.09 Million in Medtronic PLC $MDT

Key Points

• Virginia Retirement Systems purchased 52,300 Medtronic shares valued at approximately $4.09 million, while institutional investors collectively own 82.06% of the company.
• Medtronic exceeded quarterly expectations, reporting $1.45 in EPS and $9.76 billion in revenue, with sales up 13.7% year over year. Analysts maintain a “Moderate Buy” consensus rating and a $103.92 average price target.
• The company declared a quarterly dividend of $0.72 per share, equating to $2.88 annually and a roughly 3.1% yield; however, competition, margin pressure and execution risks could temper future gains.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,300 shares of the medical technology company's stock, valued at approximately $4,091,000.

Other institutional investors also recently added to or reduced their stakes in the company. Ipsen Advisor Group LLC lifted its holdings in shares of Medtronic by 1.7% in the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company's stock valued at $572,000 after buying an additional 101 shares during the period. Quadrant Capital Group LLC grew its holdings in Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company's stock worth $3,120,000 after acquiring an additional 101 shares during the period. Rossby Financial LCC raised its position in Medtronic by 5.1% in the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company's stock worth $211,000 after acquiring an additional 107 shares in the last quarter. Wealthspire Retirement LLC lifted its holdings in Medtronic by 5.0% in the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company's stock valued at $232,000 after acquiring an additional 114 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Medtronic by 2.0% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,043 shares of the medical technology company's stock worth $622,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Medtronic from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Sanford C. Bernstein lowered their target price on shares of Medtronic from $112.00 to $97.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Rothschild & Co Redburn dropped their target price on shares of Medtronic from $111.00 to $106.00 and set a "buy" rating for the company in a report on Friday, June 5th. Robert W. Baird lifted their price target on shares of Medtronic from $91.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, September 2nd. Finally, Piper Sandler reissued a "neutral" rating on shares of Medtronic in a research note on Monday, August 10th. Nineteen 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.92.

Medtronic Trading Down 0.4%

Shares of Medtronic stock opened at $92.01 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market capitalization of $117.69 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.17 and a beta of 0.56. The business has a 50 day moving average price of $87.58 and a 200 day moving average price of $85.17.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The firm had revenue of $9.76 billion for 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 was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. Sell-side analysts anticipate that Medtronic PLC will post 5.96 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic raised its fiscal 2027 organic revenue-growth outlook and increased the lower end of its adjusted earnings forecast after quarterly results exceeded expectations. Cardiovascular devices were the primary growth engine, while surgical products also contributed to broad-based expansion. Medtronic Raised its Outlook as Heart Devices Accelerate, But Can the Momentum Last?
• Positive Sentiment: Recent results showed 13.7% year-over-year revenue growth, $9.76 billion in quarterly revenue versus a $9.55 billion consensus estimate, and adjusted EPS of $1.45 versus expectations of $1.39. The performance suggests improving demand across Medtronic’s cardiovascular and surgical franchises. Medtronic Q1 2027 Earnings Call Transcript
• Positive Sentiment: Medtronic remains attractive to income-focused investors, offering a roughly 3% dividend yield and having increased its dividend for 49 consecutive years. The company is potentially two years away from reaching “Dividend King” status, which could support long-term shareholder interest. Medtronic Is on the Cusp of Becoming a Dividend King
• Neutral Sentiment: Analysts view the improved growth and earnings outlook favorably, but investors remain selective because Medtronic must demonstrate that its cardiovascular acceleration is sustainable beyond the latest quarter.
• Negative Sentiment: Margin pressure, foreign-exchange effects, execution risks and intense medical-device competition could limit the benefit of stronger sales growth. These concerns help explain why the stock has not fully reflected the improved outlook. Medtronic Raises 2027 Outlook as Broad-Based Growth Gains Momentum

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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