Hennessy Advisors Inc. Buys 30,326 Shares of Medtronic PLC $MDT

Hennessy Advisors Inc. boosted its stake in Medtronic PLC (NYSE:MDT) by 50.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,326 shares of the medical technology company’s stock after purchasing an additional 30,326 shares during the quarter. Hennessy Advisors Inc.’s holdings in Medtronic were worth $7,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. BlackRock Inc. lifted its holdings in shares of Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after acquiring an additional 838,220 shares during the period. State Street Corp increased its stake in Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after acquiring an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Medtronic by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after acquiring an additional 1,419,730 shares during the last quarter. Capital Research Global Investors raised its position in 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 valued at $3,321,101,000 after purchasing an additional 3,880,174 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after purchasing an additional 231,919 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $91.28 on Friday. The company has a market capitalization of $116.84 billion, a PE ratio of 24.47, a P/E/G ratio of 2.45 and a beta of 0.55. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The firm has a fifty day simple moving average of $85.57 and a 200 day simple moving average of $85.67.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the previous year, the firm earned $1.62 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s payout ratio is presently 77.21%.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by insiders.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Needham raised its price target to $114 from $101 and reiterated a “Buy” rating, implying substantial upside from recent trading levels. The firm reportedly expects Medtronic to beat first-quarter estimates and raise its fiscal 2027 guidance. Needham raises Medtronic price target
• Positive Sentiment: Analysts see potential for Medtronic to exceed consensus first-quarter expectations of approximately $1.39 in adjusted EPS and $9.54 billion in revenue. A stronger-than-expected report could support the shares, particularly if management lifts its fiscal 2027 outlook. Medtronic earnings estimates
• Positive Sentiment: Recent coverage highlights momentum in Medtronic’s cardiovascular businesses and growth in renal denervation, while broader device demand is supporting the company’s rebound narrative. Medtronic device momentum
• Neutral Sentiment: The imminent earnings release is likely to keep volatility elevated. Investors will evaluate quarterly performance, procedure trends, and management’s fiscal 2027 guidance for confirmation that the recovery is sustainable. Medtronic rebound outlook
• Negative Sentiment: Tariff exposure and unfavorable currency movements remain potential headwinds to margins and reported growth. These risks could limit the benefit of strong cardiovascular trends or weigh on the shares if management issues cautious guidance. Medtronic portfolio outlook

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Medtronic from $101.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial lowered their target price on Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. TD Cowen increased their target price on shares of Medtronic from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Evercore set a $105.00 price objective on shares of Medtronic in a research 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, July 18th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $99.79.

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).