Cardinal Capital Management Inc. Buys 6,325 Shares of Medtronic PLC $MDT

Cardinal Capital Management Inc. boosted its stake in Medtronic PLC (NYSE:MDT) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,535 shares of the medical technology company’s stock after acquiring an additional 6,325 shares during the period. Cardinal Capital Management Inc.’s holdings in Medtronic were worth $27,575,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. increased its position in shares of Medtronic by 3.2% during the second quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock worth $314,000 after buying an additional 113 shares during the period. Gilbert & Cook Inc. boosted its position in Medtronic by 1.9% during the second quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock valued at $532,000 after acquiring an additional 114 shares during the last quarter. Red Spruce Capital LLC increased its holdings in Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after purchasing an additional 118 shares in the last quarter. Certior Financial Group LLC lifted its stake in Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after buying an additional 122 shares during the period. Finally, Florida Financial Advisors LLC lifted its position in shares of Medtronic by 4.8% during the 2nd quarter. Florida Financial Advisors LLC now owns 2,683 shares of the medical technology company’s stock valued at $234,000 after acquiring an additional 122 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 1.2%

Shares of Medtronic stock opened at $98.68 on Tuesday. The company has a market capitalization of $126.51 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.63 and a beta of 0.71. The stock has a fifty day simple moving average of $97.28 and a 200 day simple moving average of $93.07. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $106.33. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the business earned $1.26 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. JPMorgan Chase & Co. boosted their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Argus raised their price objective on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Finally, Barclays upped their target price on Medtronic from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target 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.