Pzena Investment Management LLC Reduces Holdings in Medtronic PLC $MDT

Pzena Investment Management LLC lowered its position in Medtronic PLC (NYSE:MDT) by 33.1% during the third quarter, according to its most recent filing with the SEC. 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 approximately 1.8% of Pzena Investment Management LLC’s portfolio, making the stock its 20th biggest holding. Pzena Investment Management LLC owned approximately 0.46% of Medtronic worth $564,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Medtronic in the 2nd quarter worth approximately $1,432,698,000. Guinness Asset Management LTD acquired a new stake in shares of Medtronic in the third quarter valued at approximately $275,556,000. Vanguard Group Inc. lifted its position in Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after buying an additional 1,895,165 shares in the last quarter. Bessemer Group Inc. boosted its stake in Medtronic by 86.2% during the third quarter. Bessemer Group Inc. now owns 2,538,029 shares of the medical technology company’s stock worth $241,723,000 after buying an additional 1,174,765 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Medtronic by 332.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,494,782 shares of the medical technology company’s stock valued at $130,300,000 after buying an additional 1,148,803 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. CICC Research initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “outperform” rating on the stock. UBS Group reissued a “neutral” rating and issued a $104.00 price target on shares of Medtronic in a research note on Wednesday, February 4th. Royal Bank Of Canada raised their price target on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Finally, Barclays reiterated an “overweight” rating and issued a $118.00 price objective on shares of Medtronic in a report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.05.

Medtronic Stock Up 2.2%

Medtronic stock opened at $98.51 on Thursday. The company has a market capitalization of $126.29 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. Medtronic PLC has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The firm has a 50 day moving average price of $99.14 and a 200 day moving average price of $96.59.

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

Medtronic Dividend Announcement

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

Medtronic News Roundup

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 Company 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).