7,323 Medtronic PLC $MDT Shares Bought by Cardinal Capital Management

Cardinal Capital Management lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 8.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 92,363 shares of the medical technology company’s stock after acquiring an additional 7,323 shares during the period. Cardinal Capital Management’s holdings in Medtronic were worth $8,036,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Activest Wealth Management increased its stake in Medtronic by 470.9% in the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 259 shares during the period. IAG Wealth Partners LLC bought a new position in Medtronic during the second quarter worth about $30,000. Pin Oak Investment Advisors Inc. bought a new position in Medtronic during the second quarter worth about $32,000. Global Assets Advisory LLC bought a new position in Medtronic during the first quarter worth about $36,000. Finally, Core Capital Management & Research inc. acquired a new stake in Medtronic during the second quarter valued at approximately $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 1.7%

Shares of Medtronic stock opened at $93.05 on Thursday. The stock has a market capitalization of $119.02 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.55. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $91.23 and a 200 day simple moving average of $85.16. Medtronic PLC has a 12-month low of $73.31 and a 12-month high of $106.33.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 70.94%.

Insider Activity

In related news, EVP Harry Kiil sold 1,483 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction 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 represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Geoffrey Martha sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the sale, the chief executive officer owned 277,866 shares in the company, valued at approximately $26,397,270. This trade represents a 15.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 61,903 shares of company stock worth $5,889,203. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Medtronic in a research note on Wednesday, September 30th. Bank of America increased their target price on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. UBS Group restated a “cautious” rating on shares of Medtronic in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $92.00 price target on shares of Medtronic in a research note on Thursday, September 3rd. Finally, Barclays raised Medtronic to a “hold” rating in a research note on Wednesday, October 7th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Company Profile

Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.