Cullen Investment Group LTD. Grows Stock Holdings in Medtronic PLC $MDT

Cullen Investment Group LTD. raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,104 shares of the medical technology company’s stock after acquiring an additional 7,183 shares during the quarter. Medtronic comprises approximately 1.2% of Cullen Investment Group LTD.’s portfolio, making the stock its 23rd biggest holding. Cullen Investment Group LTD.’s holdings in Medtronic were worth $9,094,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MDT. 1248 Management LLC purchased a new stake in Medtronic during the 1st quarter worth about $26,000. Delos Wealth Advisors LLC purchased a new position in Medtronic during the 2nd quarter valued at about $27,000. Twin Tree Management LP bought a new stake in shares of Medtronic during the first quarter valued at about $29,000. Activest Wealth Management lifted its holdings in shares of Medtronic by 3,577.8% in the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares in the last quarter. Finally, GFG Capital LLC bought a new position in shares of Medtronic in the second quarter valued at approximately $36,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDT. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Medtronic in a report on Monday. Truist Financial lifted their price objective on Medtronic from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Leerink Partners set a $120.00 target price on Medtronic and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Finally, Argus raised their price target on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.11.

Medtronic Stock Down 0.8%

Shares of NYSE:MDT opened at $97.77 on Wednesday. The firm has a market capitalization of $125.34 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 2.60 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $106.33. The firm has a fifty day moving average of $97.26 and a 200 day moving average of $93.18.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.86 billion. During the same quarter last year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is currently 76.55%.

About Medtronic

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.