176,768 Shares in Medtronic PLC $MDT Purchased by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. acquired a new stake in Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 176,768 shares of the medical technology company’s stock, valued at approximately $16,835,000.

Other hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $27,000. Corundum Trust Company INC bought a new stake in Medtronic in the 3rd quarter valued at $27,000. Valley Wealth Managers Inc. acquired a new stake in Medtronic during the 3rd quarter valued at $29,000. Imprint Wealth LLC acquired a new stake in Medtronic during the 3rd quarter valued at $31,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Medtronic during the third quarter worth $33,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MDT shares. UBS Group reissued a “neutral” rating and issued a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Citigroup started coverage on shares of Medtronic in a research note on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price target on the stock. CICC Research started coverage on shares of Medtronic in a report on Friday, January 30th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company started coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.74.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Medtronic Trading Down 0.4%

Shares of Medtronic stock opened at $86.83 on Friday. The firm has a 50-day moving average of $97.05 and a 200-day moving average of $96.71. The stock has a market cap of $111.48 billion, a PE ratio of 24.19, a PEG ratio of 2.24 and a beta of 0.71. 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 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.3%. Medtronic’s dividend payout ratio is currently 79.11%.

Medtronic Profile

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).