BlackRock Amends Medtronic Stake, Signals Continued Confidence

TL;DR

**BlackRock still owns Medtronic stock, signaling institutional confidence.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on February 12, 2024, disclosing its ownership in Medtronic plc as of December 31, 2023. This filing, Amendment No. 7, indicates BlackRock continues to hold a significant stake in Medtronic plc's Common Stock, identified by SEDOL Number BTN1Y11. This matters to investors because BlackRock is a major institutional investor, and its continued substantial holding signals confidence in Medtronic's long-term prospects, potentially influencing other investors' perceptions and decisions.

Why It Matters

This filing shows BlackRock, a massive investment firm, still holds a significant chunk of Medtronic stock, which can be seen as a vote of confidence in the company's future by a major player.

Risk Assessment

Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate negative risks for Medtronic plc.

Analyst Insight

Investors should note BlackRock's continued presence as a major shareholder, which could be a positive signal, but should also conduct their own due diligence on Medtronic plc's financials and future prospects.

Key Players & Entities

• BlackRock Inc. (company) — the filer and institutional investor
• Medtronic plc (company) — the subject company whose shares are owned
• December 31, 2023 (date) — the date of the event requiring the filing
• February 12, 2024 (date) — the filing date of the SC 13G/A
• BTN1Y11 (other) — the SEDOL Number for Medtronic plc's Common Stock

Forward-Looking Statements

• BlackRock will maintain a significant stake in Medtronic plc throughout 2024. (BlackRock Inc.) — medium confidence, target: December 31, 2024

FAQ

From the Filing

0001086364-24-006974.txt : 20240212 0001086364-24-006974.hdr.sgml : 20240212 20240212135955 ACCESSION NUMBER: 0001086364-24-006974 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Medtronic plc CENTRAL INDEX KEY: 0001613103 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 000000000 FISCAL YEAR END: 0426 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-89325 FILM NUMBER: 24619039 BUSINESS ADDRESS: STREET 1: 20 ON HATCH, LOWER HATCH STREET CITY: DUBLIN STATE: L2 ZIP: 2 BUSINESS PHONE: 01135314381700 MAIL ADDRESS: STREET 1: 20 ON HATCH, LOWER HATCH STREET CITY: DUBLIN STATE: L2 ZIP: 2 FORMER COMPANY: FORMER CONFORMED NAME: Medtronic Ltd DATE OF NAME CHANGE: 20150112 FORMER COMPANY: FORMER CONFORMED NAME: Medtronic Holdings Ltd DATE OF NAME CHANGE: 20140711 FORMER COMPANY: FORMER CONFORMED NAME: Kalani I Ltd DATE OF NAME CHANGE: 20140709 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 ie00btn1y115_021224.txt ie00btn1y115_021224.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 7) MEDTRONIC PUBLIC LIMITED COMPANY -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) BTN1Y11 -------------------------------------------------------- (SEDOL Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SEDOL No. BTN1Y11 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 107697752 (6) Shared voting power 0 (7) Sole dispositive power 118570867 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 118570867 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 8.9% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- MEDTRONIC PUBLIC LIMITED COMPANY Item 1(b) Address of issuer's principal executive offices: -------------------------------------