Medtronic PLC (NYSE:MDT) Stock Short Interest Report for September

Medtronic PLC (NYSE:MDT) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 39,974,230 shares, an increase of 132.0% from the September 15th total of 17,229,743 shares. Based on an average trading volume of 14,671,374 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.1% of the shares of the company are sold short.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group reissued a “cautious” rating on shares of Medtronic in a research note on Wednesday. BTIG Research lowered their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a report on Monday. Mizuho set a $115.00 price objective on shares of Medtronic in a research note on Wednesday, September 2nd. Evercore set a $105.00 price objective on shares of Medtronic in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.88.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Piper Sandler sees a positive read-through for Medtronic. The analyst commentary suggests recent developments may support the investment case for MDT and likely contributed to buying interest. Piper Sandler on Medtronic: Positive Read-Through for MDT
• Positive Sentiment: Medtronic reported final results for its MiniMed Group exchange offer. The transaction gives shareholders additional clarity on the separation and ownership structure of the diabetes business. The reported 18.3% proration indicates demand exceeded the shares available for exchange, a potentially favorable sign for investor interest in MiniMed and Medtronic’s strategic repositioning. Medtronic Announces Final Results of MiniMed Group Exchange Offer
• Neutral Sentiment: Medtronic’s dividend remains attractive to income investors. A comparison with Abbott highlighted MDT’s higher current payout, while Abbott has delivered faster dividend growth. This supports Medtronic’s appeal for yield-focused investors but is more of a long-term valuation consideration than a new earnings catalyst. Medtronic Pays More Today: Abbott Raises Its Dividend Faster
• Neutral Sentiment: Industry reports project strong growth in mHealth and bioelectronic medicine. Medtronic is listed among major participants in both markets, offering potential long-term opportunities, but the reports do not provide company-specific revenue or earnings changes. mHealth Solutions Market Forecasts Growth
• Negative Sentiment: Short interest in MDT increased significantly. Rising bearish positioning could create volatility and signals that some investors remain skeptical, despite the recent share-price strength. Medtronic Sees Significant Increase in Short Interest

Medtronic Price Performance

Shares of Medtronic stock traded up $1.13 during trading on Wednesday, hitting $94.14. The stock had a trading volume of 49,857,656 shares, compared to its average volume of 29,188,688. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The firm has a market cap of $120.41 billion, a P/E ratio of 16.26, a PEG ratio of 2.12 and a beta of 0.55. The business has a fifty day moving average of $90.68 and a two-hundred day moving average of $84.88. Medtronic 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 Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same quarter last year, the business posted $1.26 earnings per share. The company’s quarterly 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. On average, sell-side analysts expect that Medtronic will post 5.98 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared 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 of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is currently 70.94%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president owned 42,186 shares of the company’s stock, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Medtronic by 0.7% during 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 in the last quarter. State Street Corp boosted its holdings in shares of Medtronic by 2.7% in 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 increased its position in shares of Medtronic by 5.4% in 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 acquiring an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Medtronic by 37.2% in 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 acquiring an additional 3,739,288 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new position in shares of Medtronic in the first quarter worth approximately $965,922,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Company Profile

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.