Medtronic PLC $MDT Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in Medtronic PLC (NYSE:MDT) by 95.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 112,566 shares of the medical technology company’s stock after selling 2,512,360 shares during the quarter. Van ECK Associates Corp’s holdings in Medtronic were worth $8,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MDT. Anfield Capital Management LLC increased its holdings in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares during the period. Monetary Solutions Ltd acquired a new position in Medtronic during the 4th quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new position in Medtronic in the 4th quarter worth about $29,000. IAG Wealth Partners LLC bought a new position in Medtronic in the 2nd quarter worth about $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the 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 directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Q1 results exceeded expectations. Medtronic reported adjusted earnings of $1.45 per share versus the $1.39 consensus estimate, while revenue rose 13.7% year over year to $9.76 billion, ahead of the $9.55 billion forecast. Growth was broad-based, led by Cardiovascular revenue up 19.5%, Diabetes up 16.9%, Neuroscience up 10.3% and Medical Surgical up 10.0%. Reuters: Medtronic boosts fiscal 2027 forecasts on heart device demand
• Positive Sentiment: Management raised its full-year outlook. Medtronic increased its fiscal 2027 organic revenue-growth forecast to 7.25%-7.75% and now expects adjusted EPS of $5.94-$6.00. The guidance increase reinforces investor confidence in demand for heart devices, newer growth platforms and recent portfolio investments. Medtronic fiscal 2027 results and guidance
• Positive Sentiment: Robotics and structural-heart investments broaden Medtronic’s growth opportunities. The company committed approximately $700 million to Cornerstone Robotics, gaining distribution rights for its Sentire surgical system in select markets outside the U.S. Medtronic also announced an investment of up to $80 million in Pi-Cardia, supporting complex transcatheter aortic valve replacement procedures. Medtronic Cornerstone Robotics partnership
• Positive Sentiment: Analyst sentiment improved. BTIG raised its price target from $91 to $100 and maintained a Buy rating, while William Blair reiterated its Buy rating, citing cardiovascular expansion and the robotics strategy as sources of longer-term upside.
• Neutral Sentiment: Management’s second-quarter fiscal 2027 EPS guidance of $1.32-$1.34 was slightly below the $1.35 consensus estimate, though the full-year forecast was broadly in line with expectations after the upgrade.
• Neutral Sentiment: Broader healthcare stocks also advanced, providing a supportive sector backdrop, while the wider market was weaker. However, MDT’s earnings, guidance and strategic announcements were the primary stock-specific catalysts.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price target on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Truist Financial lowered their target price on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Robert W. Baird cut their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Leerink Partners reduced their price target on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Finally, Wells Fargo & Company decreased their price target on Medtronic from $114.00 to $102.00 and set an “overweight” 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.17.

Medtronic Price Performance

NYSE:MDT opened at $91.92 on Wednesday. The business’s 50-day moving average price is $86.03 and its 200 day moving average price is $85.42. The firm has a market cap of $117.66 billion, a P/E ratio of 24.64, a PEG ratio of 2.43 and a beta of 0.56. Medtronic PLC has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the company earned $1.26 EPS. Medtronic’s revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s payout ratio is presently 77.21%.

Medtronic Company 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).