Cullen Frost Bankers Inc. Reduces Position in Medtronic PLC $MDT

Cullen Frost Bankers Inc. decreased its holdings in Medtronic PLC (NYSE:MDT) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,395 shares of the medical technology company’s stock after selling 11,506 shares during the period. Cullen Frost Bankers Inc.’s holdings in Medtronic were worth $25,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in 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 buying an additional 1,895,165 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after acquiring an additional 310,684 shares during the period. Bank of New York Mellon Corp grew its position in shares of Medtronic by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock valued at $1,854,616,000 after purchasing an additional 595,549 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Medtronic by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after purchasing an additional 98,220 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Medtronic by 3.9% during the 2nd quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock valued at $1,538,302,000 after purchasing an additional 666,557 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MDT shares. Citigroup raised their target price on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Morgan Stanley upped their target price on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Daiwa Capital Markets boosted their price target on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Fourteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Price Performance

MDT stock opened at $100.98 on Friday. The firm has a market cap of $129.45 billion, a P/E ratio of 27.22, a P/E/G ratio of 2.66 and a beta of 0.71. The firm’s fifty day moving average is $99.44 and its 200 day moving average is $95.28. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. 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 (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’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. Research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

About Medtronic

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).