Wellington Management Group LLP Cuts Stock Holdings in Medtronic PLC $MDT

Wellington Management Group LLP decreased its position in Medtronic PLC (NYSE:MDT) by 14.0% in the second quarter, Holdings Channel reports. The institutional investor owned 6,474,476 shares of the medical technology company’s stock after selling 1,051,096 shares during the period. Wellington Management Group LLP’s holdings in Medtronic were worth $506,498,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Medtronic during the fourth quarter worth approximately $1,653,485,000. WCM Investment Management LLC acquired a new stake in Medtronic in the 1st quarter valued at $965,922,000. Capital Research Global Investors increased its holdings in Medtronic by 12.6% in the 4th 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 in the last quarter. Cullen Capital Management LLC acquired a new position in Medtronic during the second quarter worth $202,764,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Medtronic by 74.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,236,247 shares of the medical technology company’s stock valued at $406,934,000 after purchasing an additional 1,805,524 shares in 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 analysts have recently commented on MDT shares. Leerink Partners cut 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. Evercore set a $105.00 price objective on Medtronic in a research note on Monday, July 6th. BTIG Research restated a “buy” rating and issued a $91.00 target price on shares of Medtronic in a research report on Tuesday, August 18th. Robert W. Baird dropped their price target on Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $118.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $99.79.

Medtronic Price Performance

Medtronic stock opened at $91.28 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $85.57 and a 200 day moving average price of $85.67. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The stock has a market cap of $116.84 billion, a P/E ratio of 24.47, a PEG ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The company’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. Sell-side analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Announces Dividend

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

Insider Buying and Selling

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at $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 available at the SEC website. 0.27% of the stock is owned by company insiders.

Medtronic News Summary

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

Medtronic Profile

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).