Cullinan Associates Inc. Has $4.17 Million Position in Medtronic PLC $MDT

Cullinan Associates Inc. lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 10.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,765 shares of the medical technology company’s stock after selling 5,341 shares during the period. Cullinan Associates Inc.’s holdings in Medtronic were worth $4,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Corundum Trust Company INC acquired a new position in Medtronic during the 3rd quarter worth $27,000. Delos Wealth Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Medtronic in the third quarter worth about $33,000. Tripletail Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $34,000. Finally, Clean Yield Group boosted its stake in Medtronic by 265.7% during the 3rd quarter. Clean Yield Group now owns 384 shares of the medical technology company’s stock valued at $37,000 after purchasing an additional 279 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 0.5%

Shares of MDT stock opened at $96.46 on Wednesday. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The stock has a fifty day moving average price of $98.56 and a 200 day moving average price of $94.72. The stock has a market cap of $123.67 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 2.56 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDT. Daiwa Capital Markets lifted their price target on Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Morgan Stanley increased their price target on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Finally, UBS Group raised their price target on shares of Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.28.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).