Engineers Gate Manager LP Purchases 164,637 Shares of Medtronic PLC $MDT

Engineers Gate Manager LP raised its position in Medtronic PLC (NYSE:MDT) by 2,177.7% during the second quarter, HoldingsChannel.com reports. The firm owned 172,197 shares of the medical technology company’s stock after purchasing an additional 164,637 shares during the period. Engineers Gate Manager LP’s holdings in Medtronic were worth $13,471,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Monetary Solutions Ltd purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $27,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Medtronic in the fourth quarter worth approximately $29,000. IAG Wealth Partners LLC purchased a new stake in shares of Medtronic in the second quarter worth approximately $30,000. Imprint Wealth LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $31,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Medtronic during the 4th quarter worth approximately $32,000. Institutional investors own 82.06% of the company’s stock.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analyst maintains Buy rating: William Blair analyst Brandon Vazquez reaffirmed a Buy rating, citing Medtronic’s strong fiscal 2027 outlook and an attractive risk/reward profile. Analyst Brandon Vazquez Reaffirms Buy on Medtronic
• Positive Sentiment: Cardiovascular growth is accelerating: Medtronic’s heart-device businesses are outperforming the broader med-tech sector, helping drive fiscal 2027 first-quarter revenue of approximately $9.8 billion and 13.7% organic growth. Demand was particularly strong in cardiovascular products. Medtronic’s Heart Devices Are Suddenly Outgrowing the Rest of Med-Tech
• Positive Sentiment: Fiscal 2027 outlook raised: Management increased its organic revenue-growth forecast and raised the lower end of its adjusted earnings outlook after exceeding quarterly expectations. The broad-based growth supports the case for improving business momentum. Medtronic Raises 2027 Outlook as Broad-Based Growth Gains Momentum
• Neutral Sentiment: Income appeal remains notable: Medtronic has increased its dividend for 49 consecutive years and offers a yield near 3%, putting it within two years of potential Dividend King status. This may support demand from income-focused investors, although dividend-related news is unlikely to be a major near-term catalyst. Medtronic Is on the Cusp of Becoming a Dividend King
• Negative Sentiment: Execution risks remain: Analysts and commentators question whether the cardiovascular growth rate can persist, particularly as Medtronic faces margin pressure, competition and the approaching exit from its diabetes business. A reporting period with an extra selling week also makes the headline growth rate somewhat easier to achieve. Medtronic Raised its Outlook as Heart Devices Accelerate

Medtronic Stock Performance

MDT stock opened at $91.60 on Friday. 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 business has a 50-day moving average price of $87.75 and a 200 day moving average price of $85.13. The company has a market capitalization of $117.17 billion, a P/E ratio of 22.56, a PEG ratio of 2.16 and a beta of 0.56. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. The company 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 firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. 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, equities research analysts forecast that Medtronic PLC will post 5.96 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 70.94%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDT. Weiss Ratings upgraded Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 4th. Jefferies Financial Group reiterated a “hold” rating and set a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 target price on shares of Medtronic in a research note on Wednesday, September 2nd. Stifel Nicolaus raised their price target on shares of Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, September 2nd. Finally, Evercore set a $105.00 price objective on shares of Medtronic in a report on Monday, July 6th. Nineteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

About Medtronic

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.