Manning & Napier Advisors LLC Sells 14,578 Shares of Medtronic PLC $MDT

Manning & Napier Advisors LLC reduced its stake in Medtronic PLC (NYSE:MDT) by 15.0% during the 1st quarter, HoldingsChannel reports. The fund owned 82,859 shares of the medical technology company’s stock after selling 14,578 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Medtronic were worth $7,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Medtronic in the 4th quarter valued at about $1,653,485,000. Capital Research Global Investors boosted its position in shares of Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the period. Wellington Management Group LLP boosted its position in shares of Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after buying an additional 2,658,981 shares during the period. SG Americas Securities LLC grew its holdings in shares of Medtronic by 2,297.7% during the fourth quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company’s stock worth $241,179,000 after buying an additional 2,406,000 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Medtronic by 41.8% during the third quarter. Alliancebernstein L.P. now owns 7,921,480 shares of the medical technology company’s stock worth $754,442,000 after buying an additional 2,333,686 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 1.7%

Shares of NYSE:MDT traded up $1.39 during midday trading on Friday, reaching $83.78. The company had a trading volume of 7,190,992 shares, compared to its average volume of 8,643,010. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $79.11 and its 200 day moving average price is $88.53. The stock has a market cap of $107.24 billion, a PE ratio of 22.46, a P/E/G ratio of 2.25 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 quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Research analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: TD Cowen cut its price target on Medtronic to $100 from $119 but kept a buy rating, signaling the stock still has meaningful upside from current levels. TD Cowen lowers price target on Medtronic
• Positive Sentiment: Another recent bullish note said Medtronic’s guidance is conservative and “built to be beaten,” highlighting strong fiscal 2026 revenue growth and potential upside catalysts from the MiniMed separation, tariff refunds, and payment relief. Medtronic guidance built to be beaten
• Positive Sentiment: Another Seeking Alpha article argued Medtronic is undervalued and that tailwinds are just beginning, reinforcing the idea that investors may be underappreciating the company’s growth potential. Medtronic undervalued and tailwinds just getting started
• Positive Sentiment: Citi also reportedly initiated or reiterated a buy view on Medtronic, adding to the wave of favorable analyst sentiment. Medtronic receives a buy from Citi
• Neutral Sentiment: Medtronic disclosed a voluntary global recall of its Octopus 4 Tissue Stabilizer after an assembly issue affecting 590 units. The issue appears limited, but recalls can create short-term investor caution. Medtronic recalls Octopus 4 Tissue Stabilizer
• Neutral Sentiment: Separate valuation pieces on Medtronic suggest the stock remains cheap relative to fundamentals, but these are more interpretation than hard catalysts for the share price. Medtronic stock could be undervalued

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MDT shares. TD Cowen dropped their target price on Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday. Leerink Partners reduced their price target on Medtronic from $117.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Mizuho decreased their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Stifel Nicolaus set a $80.00 price objective on shares of Medtronic in a research report on Wednesday, June 3rd. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.17.

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).