Thornburg Investment Management Inc. Has $196.49 Million Stock Position in Medtronic PLC $MDT

Thornburg Investment Management Inc. grew its position in Medtronic PLC (NYSE:MDT) by 24.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,511,730 shares of the medical technology company’s stock after purchasing an additional 494,653 shares during the period. Medtronic comprises about 1.9% of Thornburg Investment Management Inc.’s holdings, making the stock its 16th largest position. Thornburg Investment Management Inc. owned approximately 0.20% of Medtronic worth $196,493,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MDT. Hennessy Advisors Inc. grew its stake in shares of Medtronic by 50.5% in the 2nd quarter. Hennessy Advisors Inc. now owns 90,326 shares of the medical technology company’s stock valued at $7,066,000 after buying an additional 30,326 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in Medtronic in the second quarter valued at approximately $387,000. Spinnaker Trust grew its position in Medtronic by 15.2% in the second quarter. Spinnaker Trust now owns 69,721 shares of the medical technology company’s stock worth $5,454,000 after acquiring an additional 9,186 shares in the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Medtronic by 28.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 84,156 shares of the medical technology company’s stock worth $6,584,000 after purchasing an additional 18,407 shares during the last quarter. Finally, Capital Advisors Inc. OK increased its stake in shares of Medtronic by 16.7% during the 2nd quarter. Capital Advisors Inc. OK now owns 739,685 shares of the medical technology company’s stock worth $57,866,000 after purchasing an additional 106,104 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 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

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Jefferies Financial Group reiterated a “hold” rating and set a $88.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Sanford C. Bernstein cut their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average price target of $99.79.

Medtronic Stock Performance

Shares of MDT opened at $91.28 on Friday. The company has a market capitalization of $116.84 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. 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 one year low of $73.31 and a one year high of $106.33. The company’s fifty day moving average price is $85.57 and its 200 day moving average price is $85.67.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. 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 company earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, analysts expect that Medtronic PLC will post 5.94 earnings per share for the current year.

Medtronic Dividend Announcement

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

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’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 value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is owned by company insiders.

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).