Medtronic PLC $MDT Position Trimmed by Chiron Capital Management LLC

Chiron Capital Management LLC lessened its position in shares of Medtronic PLC (NYSE:MDT) by 58.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,121 shares of the medical technology company’s stock after selling 5,700 shares during the period. Chiron Capital Management LLC’s holdings in Medtronic were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MDT. BlackRock Inc. raised its holdings in Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after buying an additional 838,220 shares during the period. State Street Corp grew its stake in Medtronic by 2.7% during the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after buying an additional 1,658,301 shares during the period. Bank of America Corp DE grew its stake in Medtronic by 5.4% during the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after buying an additional 1,343,220 shares during the period. First Eagle Investment Management LLC grew its stake in Medtronic by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after buying an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic in the first quarter worth $965,922,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDT. Robert W. Baird raised their target price on shares of Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Bank of America upped their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. UBS Group reiterated a “cautious” rating on shares of Medtronic in a report on Wednesday. BTIG Research lowered their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a report on Monday. Finally, Barclays raised Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the transaction, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Medtronic Stock Up 1.2%

Shares of MDT traded up $1.11 during mid-day trading on Thursday, reaching $95.34. 6,965,303 shares of the stock traded hands, compared to its average volume of 11,091,905. The firm has a market cap of $121.96 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 2.12 and a beta of 0.55. The stock has a fifty day simple moving average of $90.68 and a 200 day simple moving average of $84.88. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $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. Sell-side analysts expect that Medtronic PLC will post 5.98 EPS 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 issued a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is currently 70.94%.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: MiniMed separation completed: Medtronic announced that MiniMed Group, Inc. is now an independent Nasdaq-listed company under the ticker MMED. The transaction could sharpen Medtronic’s focus on its remaining medical-device businesses, simplify its portfolio and potentially improve investor valuation of the separate companies. Medtronic Completes Separation of MiniMed Group
• Positive Sentiment: Favorable analyst read-through: Piper Sandler described recent developments as a “positive read-through” for MDT, which may be supporting investor sentiment. The supplied report does not provide additional details on the analyst’s rationale. Piper Sandler positive read-through
• Neutral Sentiment: Final exchange results announced: Medtronic reported the final results of its exchange offer involving MiniMed shares. Completion removes transaction uncertainty, although the supplied information does not disclose participation levels or the resulting ownership impact. Final MiniMed exchange results
• Neutral Sentiment: Income-investor appeal: Articles continue to highlight Medtronic’s long record of dividend payments and comparatively attractive yield, which may support defensive demand for the stock but is not a new earnings catalyst. Healthcare dividend stocks
• Negative Sentiment: ETF selling: ETFs reportedly sold approximately $222.5 million of MDT shares on October 13, indicating notable institutional supply that could weigh on the stock, although the activity predates today’s separation announcement. ETF sales of Medtronic shares

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.