Saudi Central Bank Acquires 42,551 Shares of Medtronic PLC $MDT

Saudi Central Bank grew its holdings in Medtronic PLC (NYSE:MDT) by 89.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,872 shares of the medical technology company’s stock after acquiring an additional 42,551 shares during the quarter. Saudi Central Bank’s holdings in Medtronic were worth $7,031,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ipsen Advisor Group LLC boosted its holdings in Medtronic by 1.7% in the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after purchasing an additional 101 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after purchasing an additional 101 shares during the period. Rossby Financial LCC raised its position in shares of Medtronic by 5.1% in the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock valued at $211,000 after buying an additional 107 shares in the last quarter. Wealthspire Retirement LLC raised its position in shares of Medtronic by 5.0% in the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock valued at $232,000 after buying an additional 114 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Medtronic by 2.0% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,043 shares of the medical technology company’s stock valued at $622,000 after buying an additional 117 shares during the period. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Needham & Company LLC increased their price target on Medtronic from $101.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. BTIG Research lifted their price objective on Medtronic from $91.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Mizuho set a $115.00 target price on Medtronic in a research report on Wednesday. Bank of America increased their target price on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Nineteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $94.12 on Friday. The company’s 50 day simple moving average is $86.78 and its 200 day simple moving average is $85.37. The stock has a market capitalization of $120.47 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.89% and a net margin of 13.93%.The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $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. As a group, research analysts predict that Medtronic PLC will post 5.96 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Insider Buying and Selling at Medtronic

In related news, EVP Harry Kiil sold 4,189 shares of the company’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 sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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: Medtronic said executives will present at the Wells Fargo Healthcare Conference on September 8 and other upcoming investor events. These appearances could provide additional updates on growth initiatives, product launches, and financial guidance. Medtronic executives to speak at upcoming investor conferences
• Positive Sentiment: Royal Bank of Canada reaffirmed its Outperform rating, while Stifel Nicolaus, Robert W. Baird, TD Cowen, and BTIG Research maintained bullish assessments or projected meaningful price appreciation. The broad analyst support reinforces investor confidence in MDT’s outlook. Royal Bank of Canada reaffirms Outperform rating
• Positive Sentiment: New real-world evidence from Medtronic’s PERSIST addendum study is supporting the company’s Inceptiv spinal cord stimulation system. Further clinical validation could improve adoption prospects and strengthen the pain-management franchise. Medtronic’s PERSIST study builds real-world evidence
• Positive Sentiment: Medtronic’s latest reported quarter exceeded expectations, with earnings of $1.45 per share versus a $1.39 consensus estimate and revenue of $9.76 billion versus $9.55 billion expected. Revenue increased 13.7% year over year, providing a favorable fundamental backdrop.
• Neutral Sentiment: Unusually large options trading indicates elevated investor interest in MDT, but the activity does not by itself establish whether traders expect further gains or a pullback. Medtronic target of unusually large options trading
• Negative Sentiment: A MarketWatch strategy highlighted Medtronic as a healthcare stock that may be overcrowded, recommending a bearish options position because many investors have already bet on additional gains. This raises the risk of profit-taking or volatility despite the positive fundamental and analyst backdrop. Healthcare stocks may be too crowded to own

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).