Cullen Investment Group LTD. Raises Stock Position in Medtronic PLC $MDT

Cullen Investment Group LTD. lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,921 shares of the medical technology company’s stock after acquiring an additional 5,802 shares during the quarter. Medtronic makes up approximately 1.1% of Cullen Investment Group LTD.’s holdings, making the stock its 27th biggest holding. Cullen Investment Group LTD.’s holdings in Medtronic were worth $7,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MDT. Brighton Jones LLC increased its position in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Medtronic during the fourth quarter worth approximately $756,000. Rafferty Asset Management LLC boosted its stake in shares of Medtronic by 11.8% during the fourth quarter. Rafferty Asset Management LLC now owns 145,445 shares of the medical technology company’s stock valued at $11,618,000 after purchasing an additional 15,357 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Medtronic during the fourth quarter valued at approximately $1,003,000. Finally, Snowden Capital Advisors LLC boosted its stake in shares of Medtronic by 3.3% during the fourth quarter. Snowden Capital Advisors LLC now owns 43,579 shares of the medical technology company’s stock valued at $3,512,000 after purchasing an additional 1,374 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Mizuho increased their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Citigroup increased their price objective on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.14.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $94.05 on Friday. The company has a market cap of $120.64 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $91.50 and a two-hundred day moving average of $88.28.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.