Cullen Investment Group LTD. Buys 5,802 Shares of Medtronic PLC $MDT

Cullen Investment Group LTD. raised its stake in shares of Medtronic PLC (NYSE:MDT) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,921 shares of the medical technology company’s stock after purchasing an additional 5,802 shares during the period. Medtronic accounts for approximately 1.1% of Cullen Investment Group LTD.’s holdings, making the stock its 27th biggest position. Cullen Investment Group LTD.’s holdings in Medtronic were worth $7,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $26,000. Burkett Financial Services LLC boosted its holdings in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $28,000. Twin Tree Management LP bought a new position in shares of Medtronic during the 1st quarter valued at about $29,000. Finally, Activest Wealth Management boosted its holdings in shares of Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.2%

Shares of NYSE MDT opened at $94.05 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The stock has a market capitalization of $120.64 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 2.48 and a beta of 0.77. The firm’s 50-day moving average price is $91.50 and its 200-day moving average price is $88.28.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the company posted $1.23 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

Insider Transactions at Medtronic

In other news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. William Blair raised shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Sanford C. Bernstein upped their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, Evercore ISI upped their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average target price of $102.14.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.