Cullen Capital Management LLC Sells 19,459 Shares of Medtronic PLC $MDT

Cullen Capital Management LLC lessened its holdings in Medtronic PLC (NYSE:MDT) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,701,420 shares of the medical technology company’s stock after selling 19,459 shares during the period. Medtronic comprises 2.7% of Cullen Capital Management LLC’s holdings, making the stock its 6th biggest holding. Cullen Capital Management LLC owned approximately 0.21% of Medtronic worth $235,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Medtronic in the 2nd quarter valued at approximately $1,432,698,000. Ameriprise Financial Inc. increased its holdings in shares of Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after buying an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after buying an additional 3,017,849 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after acquiring an additional 1,895,165 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Medtronic by 100.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,873,623 shares of the medical technology company’s stock valued at $258,224,000 after acquiring an additional 1,442,768 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $99.86 on Monday. The business’s 50 day simple moving average is $97.27 and its 200 day simple moving average is $92.96. Medtronic PLC has a one year low of $79.29 and a one year high of $106.33. The stock has a market capitalization of $128.02 billion, a PE ratio of 26.92, a PEG ratio of 2.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. The firm had revenue of $8.96 billion during 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 company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.8%. Medtronic’s payout ratio is presently 76.55%.

Analysts Set New Price Targets

Several research firms have commented on MDT. Weiss Ratings reiterated a “buy (b)” rating on shares of Medtronic in a research report on Monday, December 8th. UBS Group upped their price objective on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Morgan Stanley lifted their target price on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Stifel Nicolaus boosted their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Finally, Citigroup upped their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.44.

Medtronic 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.