CenterBook Partners LP Makes New Investment in Medtronic PLC $MDT

CenterBook Partners LP bought a new position in Medtronic PLC (NYSE:MDT) in the fourth quarter, Holdings Channel reports. The firm bought 66,558 shares of the medical technology company’s stock, valued at approximately $6,394,000.

A number of other large investors have also bought and sold shares of MDT. Vanguard Group Inc. boosted its holdings in shares of Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares during the period. State Street Corp boosted its holdings in shares of Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after acquiring an additional 625,992 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Medtronic by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after acquiring an additional 1,419,730 shares during the period. Capital Research Global Investors boosted 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 worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after acquiring an additional 231,919 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MDT shares. Robert W. Baird cut their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday. Rothschild & Co Redburn cut their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a report on Friday. UBS Group cut their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company cut their price target on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Barclays raised their price target on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s fiscal Q4 results beat revenue expectations and showed continued year-over-year growth, while management signaled confidence in the company’s FY26/FY27 growth outlook and new product platforms. Medtronic (MDT) Climbs 5.7% on Stellar Q4
• Positive Sentiment: BTIG upgraded Medtronic to Buy with a $90 target, citing a strong revenue beat and improving organic growth, while other firms such as TD Cowen and RBC reaffirmed bullish ratings. Wall Street May Be Mispricing Medtronic, Analyst Says
• Positive Sentiment: Medtronic expanded its relationship with Retia Medical to distribute the Argos Cardiac Output Monitor across Western Europe, adding to its cardiovascular portfolio and international reach. Retia Medical Expands Distribution of Argos® Cardiac Output Monitor to Western Europe with Medtronic
• Positive Sentiment: Medtronic also announced a higher quarterly dividend, signaling confidence in cash generation and shareholder returns. Medtronic (MDT) Climbs 5.7% on Stellar Q4
• Neutral Sentiment: Several brokerages lowered price targets after earnings, but most still kept Buy/Outperform or Hold/Neutral ratings, suggesting a reset in expectations rather than a major change in long-term views. Rothschild & Co Redburn cuts Medtronic price target
• Neutral Sentiment: Analyst roundups highlighted that Wall Street’s average recommendation remains Buy, but those consensus ratings are often viewed as overly optimistic and not always predictive. Is Medtronic (MDT) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: Medtronic is still dealing with ongoing cardiovascular device recalls tied to potential sterile barrier issues, which could weigh on investor sentiment and create some execution risk. Medtronic Balances Hugo Robotics Expansion With Ongoing Cardiovascular Device Recalls

Medtronic Price Performance

NYSE:MDT opened at $81.66 on Monday. The firm has a market capitalization of $104.84 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 1.99 and a beta of 0.58. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a fifty day moving average of $81.46 and a 200 day moving average of $92.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $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 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a dividend of $0.72 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s dividend payout ratio is 76.14%.

About Medtronic

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).