Medtronic Draws Mixed Institutional Moves as Analysts Maintain Moderate Buy
Recent SEC filings revealed shifts in institutional holdings for Medtronic, while company insiders trimmed shares and Wall Street maintained an average Moderate Buy rating.
Recent regulatory disclosures showed institutional investment managers adjusting their stakes in Medtronic plc. According to a Form 13F filing with the Securities and Exchange Commission, Pictet Asset Management Holding SA reduced its position by 38.4% during the third quarter. The firm sold 440,337 shares, leaving it with 707,322 shares valued at $61,036,000 at the end of the quarter. In contrast, Brighton Jones LLC expanded its holdings by 86.9% in the third quarter to 40,425 shares, while Commonwealth Equity Services LLC grew its position by 3.8% to 572,557 shares.
Institutional investors and hedge funds collectively hold 82.06% of Medtronic's stock. Pzena Investment Management LLC also adjusted its holdings, trimming its position by 2.2% during the third quarter through the sale of 69,214 shares, leaving it with 3,078,785 shares valued at about $265,668,000. Other firms including Chicago Partners Investment Group LLC, Palisade Asset Management LLC, and Leelyn Smith LLC added shares during the same period.
Company insiders have also executed sales, offloading 61,903 shares worth $5,889,203 over the last quarter. On Thursday, October 15th, Chief Executive Officer Geoffrey Martha sold 50,000 shares at an average price of $95.00 for $4,750,000.00, executed under a Rule 10b5-1 trading plan. The sale left him with 277,866 directly owned shares. Executive Vice President Michael Marinaro also sold 10,420 shares under a trading plan on the same day at an average price of $96.00, totaling $1,000,320.00.
On Wall Street, 28 research firms covering the stock have awarded Medtronic a consensus rating of Moderate Buy, according to data from MarketBeat. Eighteen analysts rate the stock as a Buy, nine rate it as a Hold, and one has issued a Sell rating. The average 12-month consensus price target stands at $102.88.
In operational developments, Medtronic recently reported that its SPYRAL AFFIRM real-world study demonstrated statistically significant, clinically meaningful blood-pressure reductions six months following treatment with its Symplicity Spyral system. The company has announced it will report its fiscal second-quarter 2027 financial results on November 24.