Medtronic (NYSE:MDT) Stock Sees Unusually High Put Option Buying

Medtronic PLC (NYSE:MDT) was the target of unusually large options trading on Thursday. Stock investors purchased 24,238 put options on the company. This is an increase of 45% compared to the typical volume of 16,739 put options.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Truist Financial restated a “hold” rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a research note on Wednesday, September 2nd. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, August 10th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Medtronic in a research note on Wednesday. Stifel Nicolaus raised their price objective on shares of Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, September 2nd. Finally, Bank of America raised their price objective on shares of Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Nineteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Medtronic Price Performance

MDT stock traded down $0.32 on Thursday, hitting $85.97. 12,790,407 shares of the company’s stock traded hands, compared to its average volume of 9,199,728. The stock has a market cap of $109.96 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.98 and a beta of 0.56. Medtronic has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $90.00 and a 200-day moving average of $84.78.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, analysts forecast that Medtronic will post 5.98 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio is currently 70.94%.

Insider Transactions at Medtronic

In related news, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares in the company, valued at $3,950,718.90. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after buying an additional 838,220 shares in the last quarter. State Street Corp raised its holdings in shares of Medtronic by 2.7% during the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after acquiring an additional 1,658,301 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Medtronic by 2.7% in the 4th 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 in the last quarter. Capital Research Global Investors lifted its position in shares of Medtronic by 12.6% in the 4th 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 acquiring an additional 3,880,174 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Medtronic by 5.4% in the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after purchasing an additional 1,343,220 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced FDA clearance and CE Mark milestones for its Affera Prism-2 Mapping Software, along with CE Mark approval for the PulseSelect ProxBox Adapter. The approvals expand the company’s cardiac ablation and mapping capabilities and could support adoption of its electrophysiology portfolio. Medtronic announces regulatory milestones for newest cardiac mapping and ablation software
• Positive Sentiment: The FDA cleared Medtronic’s LigaSure RAS Maryland jaw for use with its Hugo robotic-assisted surgery system in the United States. The device broadens Hugo’s instrument lineup and may make the platform more attractive to hospitals evaluating robotic surgery systems. Medtronic receives FDA clearance for LigaSure RAS device
• Positive Sentiment: TD Cowen reaffirmed its “buy” rating and assigned a $110 price target, implying substantial upside from recent trading levels. The endorsement supports the view that Medtronic’s valuation and product pipeline remain attractive. TD Cowen rating update
• Neutral Sentiment: Commentary from Motley Fool and Zacks describes Medtronic as a potentially attractive long-term value stock, citing its valuation, financial profile and strategy. These opinions may support investor interest but do not represent new company-specific catalysts.
• Neutral Sentiment: Medtronic’s William J. Peine was named the 2026 Inventor of the Year for patented innovations related to the Hugo robotic-assisted surgery system. The recognition highlights research strength but has limited immediate earnings impact. IPO Education Foundation names Medtronic inventor of the year
• Negative Sentiment: Put-option volume rose about 45% above its average, indicating increased bearish speculation or downside hedging. This options activity may be contributing to short-term weakness, although it does not by itself confirm a fundamental deterioration.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.