Anchor Investment Management LLC Sells 7,000 Shares of Medtronic PLC $MDT

Anchor Investment Management LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 7.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 84,404 shares of the medical technology company’s stock after selling 7,000 shares during the quarter. Anchor Investment Management LLC’s holdings in Medtronic were worth $6,603,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MDT. Bullseye Investment Management LLC acquired a new position in shares of Medtronic during the 2nd quarter worth about $45,000. Keystone Financial Planning Inc. acquired a new stake in shares of Medtronic in the second quarter valued at about $9,889,000. Core Capital Management & Research inc. bought a new stake in Medtronic during the second quarter worth about $33,000. Tidal Investments LLC boosted its position in Medtronic by 17.5% during the second quarter. Tidal Investments LLC now owns 290,007 shares of the medical technology company’s stock valued at $22,687,000 after purchasing an additional 43,207 shares during the last quarter. Finally, National Pension Service boosted its position in Medtronic by 2.7% during the second quarter. National Pension Service now owns 3,162,805 shares of the medical technology company’s stock valued at $247,426,000 after purchasing an additional 83,277 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MDT. TD Cowen boosted their price target on Medtronic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Monday, August 10th. Leerink Partners decreased their target price on shares of Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Finally, Needham & Company LLC upped their price target on shares of Medtronic from $101.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Medtronic Stock Performance

Medtronic stock traded down $0.07 during mid-day trading on Tuesday, hitting $93.73. 7,146,882 shares of the company’s stock traded hands, compared to its average volume of 8,841,968. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The firm has a 50 day simple moving average of $88.13 and a two-hundred day simple moving average of $85.06. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock has a market cap of $119.89 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 2.13 and a beta of 0.56.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $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. On average, research analysts expect that Medtronic PLC will post 5.96 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio is currently 70.94%.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic advances MiniMed separation: Medtronic launched an exchange offer to split off at least 80.1% of MiniMed (Nasdaq: MMED), allowing shareholders to exchange MDT shares for MiniMed stock in a generally tax-free transaction for U.S. federal income-tax purposes. Completing the separation should let Medtronic concentrate on its cardiovascular, neuroscience and surgical businesses, while potentially unlocking value from the Diabetes unit. Medtronic Launches Exchange Offer to Complete Separation of MiniMed Group, Inc.
• Positive Sentiment: AI maternal-monitoring collaboration: Medtronic is partnering with Sonus Microsystems to combine Medtronic’s vital-sign monitoring technology with Sonus’s AI-powered wearable ultrasound platform. Field studies will be funded by the Gates Foundation. The agreement supports Medtronic’s innovation profile and could create longer-term growth opportunities, though it is still at an early development stage. Sonus Microsystems and Medtronic Partner to Advance AI-Powered Maternal Health Monitoring
• Neutral Sentiment: MiniMed files registration statement: MiniMed filed an SEC Form S-4 covering the exchange of up to 225.4 million shares, or 80.1% of its outstanding stock, for validly tendered MDT shares. The filing advances the transaction but leaves investors focused on final terms, participation levels and the effect on Medtronic’s remaining ownership. MiniMed Files S-4 as Medtronic Seeks to Exit Remaining Stake
• Neutral Sentiment: Analyst sentiment remains supportive: Medtronic has an average “Moderate Buy” recommendation, indicating continued confidence in the company’s earnings outlook despite execution concerns and the portfolio transition. Medtronic Receives Average Recommendation of Moderate Buy

About Medtronic

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.