Pzena Investment Management LLC Cuts Stake in Medtronic PLC $MDT

Pzena Investment Management LLC cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 33.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,928,086 shares of the medical technology company’s stock after selling 2,927,205 shares during the period. Medtronic accounts for 1.8% of Pzena Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. Pzena Investment Management LLC’s holdings in Medtronic were worth $564,591,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Delos Wealth Advisors LLC purchased a new position in Medtronic in the second quarter valued at $27,000. Corundum Trust Company INC acquired a new stake in Medtronic in the 3rd quarter valued at about $27,000. Valley Wealth Managers Inc. purchased a new position in shares of Medtronic in the 3rd quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Medtronic in the 3rd quarter valued at about $33,000. Finally, Tripletail Wealth Management LLC acquired a new position in shares of Medtronic during the third quarter worth about $34,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MDT. Morgan Stanley raised their target price on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Leerink Partners reduced their price objective on shares of Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a report on Wednesday. Daiwa Securities Group lifted their price objective on shares of Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Robert W. Baird dropped their target price on Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC decreased their price target on Medtronic from $121.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $111.05.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Q3 results beat consensus: Medtronic reported $9.0B in revenue and $1.36 non‑GAAP EPS, nudging past estimates as cardiovascular and diabetes growth led the quarter. This is the primary catalyst supporting the stock’s move. Medtronic beats quarterly profit estimates on robust demand for heart devices
• Positive Sentiment: Cardiac ablation and PFA strength: Cardiac Ablation Solutions grew ~80% (U.S. up ~137%), driven by pulsed field ablation — a clear growth engine for near‑term revenue expansion. Medtronic reports strong third quarter fiscal 2026 results with highest enterprise revenue growth in 10 quarters
• Positive Sentiment: FDA clearances and commercial milestones: The company secured FDA clearance for the Hugo™ RAS and reports the first U.S. surgical case; new device approvals and CE marks (e.g., Sphere‑360) support product pipeline upside. Medtronic announces first surgery with Hugo™ robotic-assisted surgery system in the U.S. performed at Cleveland Clinic
• Positive Sentiment: Commercial validation and adoption: Reports note U.S. cardiac ablations more than doubled and early commercial traction for Hugo in top centers — evidence of accelerating share gains in key markets. Medtronic U.S. cardiac ablations business more than doubled in Q3
• Neutral Sentiment: Guidance reaffirmed but conservative: Management reiterated FY26 guidance (EPS ~5.62–5.66), which was effectively in line with consensus — supportive but not a fresh upside catalyst. Medtronic PLC (MDT) Q3 2026 Earnings Call Highlights: Strong Cardiovascular Growth and …
• Positive Sentiment: M&A & pipeline moves: Recent bolt‑on deals (CathWorks, Anteris) and longer‑term robotics/structural‑heart catalysts bolster the multi‑year growth story investors are pricing in. Medtronic reports strong third quarter fiscal 2026 results with highest enterprise revenue growth in 10 quarters
• Negative Sentiment: Analysts trimming targets / forecasts: Multiple firms trimmed price targets (Leerink, JPMorgan, Baird) or adjusted models after Q3 — a headwind for near‑term sentiment even as ratings mostly remain Buy/Outperform. Leerink Partners adjusts price target on Medtronic to 119 from 120; maintains Outperform rating
• Negative Sentiment: Margin pressure and tariff impacts: Management noted cost and tariff pressures that compressed margins this quarter — a risk to near‑term profitability until cost levers or price actions offset them. Medtronic Profit Falls Despite Higher Revenue
• Neutral Sentiment: Technical/market narrative: MarketBeat and other commentary point to a bullish technical reversal and institutional accumulation — supportive for the stock if fundamentals remain intact, but tactical. Medtronic’s “Textbook” Reversal: How High Can It Really Go in 2026?

Medtronic Trading Up 2.2%

NYSE MDT opened at $98.51 on Thursday. The firm’s fifty day moving average price is $99.14 and its 200 day moving average price is $96.59. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The company has a market capitalization of $126.29 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.88%. Medtronic’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio is 76.55%.

About Medtronic

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).