The Manufacturers Life Insurance Company Trims Position in Medtronic PLC $MDT

The Manufacturers Life Insurance Company decreased its holdings in Medtronic PLC (NYSE:MDT) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,378,561 shares of the medical technology company’s stock after selling 34,792 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Medtronic were worth $420,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Gradient Investments LLC increased its stake in shares of Medtronic by 3.9% in the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after acquiring an additional 18,509 shares in the last quarter. Czech National Bank boosted its stake in Medtronic by 4.7% during the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after acquiring an additional 16,292 shares in the last quarter. Cerity Partners LLC grew its holdings in Medtronic by 12.7% in the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after purchasing an additional 89,111 shares during the period. National Pension Service increased its stake in shares of Medtronic by 1.0% during the fourth quarter. National Pension Service now owns 2,982,411 shares of the medical technology company’s stock valued at $286,490,000 after purchasing an additional 28,269 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Medtronic by 7.9% during the fourth quarter. Handelsbanken Fonder AB now owns 669,085 shares of the medical technology company’s stock valued at $64,272,000 after purchasing an additional 48,922 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial reaffirmed a “hold” rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. 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 research report on Thursday, June 4th. Weiss Ratings upgraded shares of Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 4th. Needham & Company LLC increased their price objective on shares of Medtronic from $101.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Nineteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Medtronic Stock Down 0.3%

MDT opened at $91.60 on Friday. The stock has a market capitalization of $117.17 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.16 and a beta of 0.56. The firm has a 50 day moving average price of $87.75 and a 200-day moving average price of $85.13. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last issued its earnings results 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 company had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company 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. Equities research analysts forecast that Medtronic PLC will post 5.96 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analyst maintains Buy rating: William Blair analyst Brandon Vazquez reaffirmed a Buy rating, citing Medtronic’s strong fiscal 2027 outlook and an attractive risk/reward profile. Analyst Brandon Vazquez Reaffirms Buy on Medtronic
• Positive Sentiment: Cardiovascular growth is accelerating: Medtronic’s heart-device businesses are outperforming the broader med-tech sector, helping drive fiscal 2027 first-quarter revenue of approximately $9.8 billion and 13.7% organic growth. Demand was particularly strong in cardiovascular products. Medtronic’s Heart Devices Are Suddenly Outgrowing the Rest of Med-Tech
• Positive Sentiment: Fiscal 2027 outlook raised: Management increased its organic revenue-growth forecast and raised the lower end of its adjusted earnings outlook after exceeding quarterly expectations. The broad-based growth supports the case for improving business momentum. Medtronic Raises 2027 Outlook as Broad-Based Growth Gains Momentum
• Neutral Sentiment: Income appeal remains notable: Medtronic has increased its dividend for 49 consecutive years and offers a yield near 3%, putting it within two years of potential Dividend King status. This may support demand from income-focused investors, although dividend-related news is unlikely to be a major near-term catalyst. Medtronic Is on the Cusp of Becoming a Dividend King
• Negative Sentiment: Execution risks remain: Analysts and commentators question whether the cardiovascular growth rate can persist, particularly as Medtronic faces margin pressure, competition and the approaching exit from its diabetes business. A reporting period with an extra selling week also makes the headline growth rate somewhat easier to achieve. Medtronic Raised its Outlook as Heart Devices Accelerate

Medtronic Company 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.