Medtronic PLC $MDT Shares Purchased by Spinnaker Trust

Spinnaker Trust boosted its holdings in Medtronic PLC (NYSE:MDT) by 15.2% during the 2nd quarter, Holdings Channel reports. The fund owned 69,721 shares of the medical technology company’s stock after acquiring an additional 9,186 shares during the quarter. Spinnaker Trust’s holdings in Medtronic were worth $5,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC boosted its position in Medtronic by 28.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 84,156 shares of the medical technology company’s stock worth $6,584,000 after acquiring an additional 18,407 shares during the period. Capital Advisors Inc. OK grew its stake in shares of Medtronic by 16.7% in the second quarter. Capital Advisors Inc. OK now owns 739,685 shares of the medical technology company’s stock worth $57,866,000 after purchasing an additional 106,104 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in shares of Medtronic by 6.9% during the second quarter. New Mexico Educational Retirement Board now owns 63,687 shares of the medical technology company’s stock valued at $4,982,000 after purchasing an additional 4,100 shares during the period. Mufg Securities Americas Inc. increased its holdings in shares of Medtronic by 9.0% during the second quarter. Mufg Securities Americas Inc. now owns 38,669 shares of the medical technology company’s stock valued at $3,025,000 after purchasing an additional 3,195 shares during the period. Finally, Nissay Asset Management Corp Japan bought a new stake in shares of Medtronic during the second quarter valued at about $13,569,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. UBS Group raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $100.00 in a report on Tuesday, July 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Truist Financial dropped their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $99.79.

Insider Buying and Selling at Medtronic

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

Medtronic Trading Up 1.5%

Shares of Medtronic stock opened at $91.28 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The firm has a market cap of $116.84 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The business has a fifty day simple moving average of $85.57 and a 200-day simple moving average of $85.67. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

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

Medtronic Announces Dividend

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

Key Headlines Impacting Medtronic

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

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).