Cibc World Market Inc. Acquires 8,554 Shares of Medtronic PLC $MDT

Cibc World Market Inc. boosted its holdings in Medtronic PLC (NYSE:MDT) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 358,438 shares of the medical technology company’s stock after purchasing an additional 8,554 shares during the quarter. Cibc World Market Inc.’s holdings in Medtronic were worth $34,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Vanguard Group Inc. boosted its stake in Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after acquiring an additional 1,895,165 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Medtronic by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock valued at $2,044,637,000 after purchasing an additional 192,410 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Medtronic by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after purchasing an additional 98,220 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Medtronic by 3.9% in 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 buying an additional 666,557 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Daiwa Securities Group lifted 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. UBS Group restated a “neutral” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 4th. Finally, Morgan Stanley lifted their price objective on shares of Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Sixteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.21.

Medtronic Stock Performance

MDT stock opened at $101.07 on Thursday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The firm has a market cap of $129.58 billion, a PE ratio of 27.24, a P/E/G ratio of 2.67 and a beta of 0.71. The business has a 50 day moving average of $99.34 and a 200-day moving average of $96.32. Medtronic PLC has a 12-month low of $79.55 and a 12-month high of $106.33.

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

Medtronic Announces Dividend

The business also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) 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).