Cardinal Point Capital Management ULC Makes New $735,000 Investment in Medtronic PLC $MDT

Cardinal Point Capital Management ULC bought a new stake in shares of Medtronic PLC (NYSE:MDT) during the third quarter, Holdings Channel reports. The fund bought 7,722 shares of the medical technology company’s stock, valued at approximately $735,000.

Several other hedge funds have also recently modified their holdings of MDT. AXQ Capital LP increased its position in shares of Medtronic by 25.6% in the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock valued at $862,000 after acquiring an additional 2,013 shares during the period. UMB Bank n.a. lifted its position in Medtronic by 65.8% during the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after acquiring an additional 54,898 shares during the period. Principal Financial Group Inc. grew its stake in Medtronic by 17.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,656,155 shares of the medical technology company’s stock valued at $157,732,000 after purchasing an additional 242,910 shares during the last quarter. Willis Investment Counsel increased its holdings in shares of Medtronic by 5.0% in the third quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after purchasing an additional 19,192 shares during the period. Finally, Sector Gamma AS increased its holdings in shares of Medtronic by 35.5% in the third quarter. Sector Gamma AS now owns 303,441 shares of the medical technology company’s stock valued at $28,900,000 after purchasing an additional 79,441 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.2%

MDT stock opened at $101.69 on Tuesday. The firm has a market cap of $130.37 billion, a PE ratio of 27.41, a P/E/G ratio of 2.71 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. The firm’s fifty day moving average is $99.37 and its 200 day moving average is $96.22. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm posted $1.26 earnings per share. The company’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. On average, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Morgan Stanley lifted their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Robert W. Baird set a $103.00 price objective on shares of Medtronic in a research note on Tuesday, December 16th. Needham & Company LLC raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Medtronic in a report on Wednesday, February 4th. Sixteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.21.

Medtronic Company 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).