Medtronic Rises as MiniMed Split-Off Exchange Ratio Nears Completion

Medtronic plc (MDT) is up 3.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied mainly to Medtronic’s latest update on the separation of MiniMed, its diabetes business. Investors may be reacting positively to the final exchange ratio and the prospect that the transaction could retire a meaningful number of Medtronic shares while further simplifying the company’s portfolio.

Details:

Medtronic announced a final exchange ratio of 4.5939 MiniMed shares for each Medtronic share accepted in the exchange offer.

The company said it is offering to exchange up to 225.4 million MiniMed shares and could distribute its remaining MiniMed stake as well if the offer is oversubscribed.

Medtronic’s filing indicates the transaction could result in roughly 49.1 million to 55.0 million Medtronic shares being accepted for exchange, depending on final take-up.

This could be boosting sentiment because the split-off sharpens Medtronic’s focus on its core medical technology operations after already reporting solid fiscal 2027 first-quarter results and a higher profit outlook earlier in September.

Sources:

Medtronic, SEC, Nasdaq

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$MDT Insider Trading Activity

$MDT insiders have traded $MDT stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $MDT stock by insiders over the last 6 months:

HARRY SKIP KIIL (EVP & President Cardiovascular) has made 0 purchases and 3 sales selling 5,672 shares for an estimated $475,848.
MATTHEW R. WALTER (SVP, Chief HR Officer) sold 3,102 shares for an estimated $257,931

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$MDT Hedge Fund Activity

We have seen 982 institutional investors add shares of $MDT stock to their portfolio, and 1,131 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL RESEARCH GLOBAL INVESTORS removed 28,665,280 shares (-68.4%) from their portfolio in Q2 2026, for an estimated $2,242,484,854
JPMORGAN CHASE & CO added 27,784,471 shares (+inf%) to their portfolio in Q2 2026, for an estimated $2,173,579,166
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 9,106,059 shares (-93.6%) from their portfolio in Q2 2026, for an estimated $712,366,995
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 8,905,319 shares (+inf%) to their portfolio in Q2 2026, for an estimated $696,663,105
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 8,233,285 shares (+176.7%) to their portfolio in Q2 2026, for an estimated $644,089,885
CAPITAL WORLD INVESTORS removed 8,134,242 shares (-49.3%) from their portfolio in Q2 2026, for an estimated $636,341,751
SG AMERICAS SECURITIES, LLC added 6,500,749 shares (+inf%) to their portfolio in Q2 2026, for an estimated $508,553,594

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$MDT Congressional Stock Trading

Members of Congress have traded $MDT stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $MDT stock by members of Congress over the last 6 months:

REPRESENTATIVE KEVIN HERN sold up to $50,000 on 08/24.
REPRESENTATIVE RICHARD MCCORMICK sold up to $15,000 on 07/30.
REPRESENTATIVE GILBERT RAY CISNEROS, JR. sold up to $15,000 on 05/15.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$MDT Price Targets

Multiple analysts have issued price targets for $MDT recently. We have seen 13 analysts offer price targets for $MDT in the last 6 months, with a median target of $100.0.

Here are some recent targets:

Vijay Kumar from Evercore ISI Group set a target price of $105.0 on 07/06/2026
Mike Matson from Needham set a target price of $101.0 on 06/17/2026
Lee Hambright from Bernstein set a target price of $97.0 on 06/05/2026
David Roman from Goldman Sachs set a target price of $83.0 on 06/05/2026
David Rescott from Baird set a target price of $85.0 on 06/04/2026
Ryan Zimmerman from BTIG set a target price of $90.0 on 06/04/2026
Joshua Jennings from TD Cowen set a target price of $119.0 on 06/04/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.