Thornburg Investment Management Inc. Has $196.49 Million Stake in Medtronic PLC $MDT

Thornburg Investment Management Inc. raised its stake in shares of Medtronic PLC (NYSE:MDT) by 24.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,511,730 shares of the medical technology company’s stock after purchasing an additional 494,653 shares during the quarter. Medtronic accounts for about 1.9% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 16th biggest position. Thornburg Investment Management Inc.’s holdings in Medtronic were worth $196,493,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MDT. Ipsen Advisor Group LLC grew its position in Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after buying an additional 101 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Medtronic by 0.3% in the 4th 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 lifted its position in shares of Medtronic by 5.1% in the 4th 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 during the period. Wealthspire Retirement LLC grew its holdings in shares of Medtronic by 5.0% during the 4th quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock worth $232,000 after purchasing an additional 114 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its holdings 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. Institutional investors own 82.06% of the company’s stock.

Medtronic News Roundup

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Needham raised its price target to $114 from $101 and reiterated a “Buy” rating, implying substantial upside from recent trading levels. The firm reportedly expects Medtronic to beat first-quarter estimates and raise its fiscal 2027 guidance. Needham raises Medtronic price target
• Positive Sentiment: Analysts see potential for Medtronic to exceed consensus first-quarter expectations of approximately $1.39 in adjusted EPS and $9.54 billion in revenue. A stronger-than-expected report could support the shares, particularly if management lifts its fiscal 2027 outlook. Medtronic earnings estimates
• Positive Sentiment: Recent coverage highlights momentum in Medtronic’s cardiovascular businesses and growth in renal denervation, while broader device demand is supporting the company’s rebound narrative. Medtronic device momentum
• Neutral Sentiment: The imminent earnings release is likely to keep volatility elevated. Investors will evaluate quarterly performance, procedure trends, and management’s fiscal 2027 guidance for confirmation that the recovery is sustainable. Medtronic rebound outlook
• Negative Sentiment: Tariff exposure and unfavorable currency movements remain potential headwinds to margins and reported growth. These risks could limit the benefit of strong cardiovascular trends or weigh on the shares if management issues cautious guidance. Medtronic portfolio outlook

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Monday, August 10th. BTIG Research reissued a “buy” rating and issued a $91.00 target price on shares of Medtronic in a research note on Tuesday, August 18th. Wells Fargo & Company dropped their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group cut their price target on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $99.79.

Medtronic Stock Up 1.5%

Shares of NYSE:MDT opened at $91.28 on Friday. The company’s fifty day moving average is $85.57 and its 200-day moving average is $85.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a market capitalization of $116.84 billion, a PE ratio of 24.47, a P/E/G ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the company posted $1.62 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio is currently 77.21%.

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).