Cooke & Bieler LP Lowers Stock Position in Medtronic PLC $MDT

Cooke & Bieler LP trimmed its position in Medtronic PLC (NYSE:MDT) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 948,445 shares of the medical technology company’s stock after selling 108,273 shares during the quarter. Cooke & Bieler LP owned about 0.07% of Medtronic worth $90,330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Corundum Trust Company INC purchased a new stake in shares of Medtronic in the third quarter worth $27,000. Delos Wealth Advisors LLC purchased a new stake in Medtronic in the 2nd quarter worth $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Medtronic in the 3rd quarter worth $33,000. Tripletail Wealth Management LLC bought a new stake in Medtronic during the third quarter valued at about $34,000. Finally, Clean Yield Group lifted its position in shares of Medtronic by 265.7% in the third quarter. Clean Yield Group now owns 384 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MDT. Sanford C. Bernstein increased their target price on Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Barclays upped their price target on Medtronic from $111.00 to $116.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Stifel Nicolaus lifted their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Robert W. Baird set a $103.00 target price on shares of Medtronic in a report on Tuesday, December 16th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Fourteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Price Performance

MDT stock opened at $100.98 on Monday. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The firm has a market capitalization of $129.45 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.71. The company has a fifty day simple moving average of $99.44 and a two-hundred day simple moving average of $95.32. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last announced its 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. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The firm had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the prior year, the company earned $1.26 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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