Cullen Capital Management LLC Sells 19,459 Shares of Medtronic PLC $MDT

Cullen Capital Management LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,701,420 shares of the medical technology company’s stock after selling 19,459 shares during the period. Medtronic makes up 2.7% of Cullen Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Cullen Capital Management LLC’s holdings in Medtronic were worth $235,483,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. 1248 Management LLC bought a new stake in Medtronic in the first quarter valued at $26,000. Delos Wealth Advisors LLC acquired a new stake in shares of Medtronic in the 2nd quarter valued at about $27,000. Twin Tree Management LP bought a new stake in Medtronic in the 1st quarter valued at about $29,000. Activest Wealth Management raised its stake in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares during the period. Finally, GFG Capital LLC bought a new position in Medtronic in the second quarter worth approximately $36,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. Robert W. Baird boosted their price objective on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Weiss Ratings restated a “buy (b)” rating on shares of Medtronic in a research note on Monday, December 8th. The Goldman Sachs Group set a $111.00 price objective on shares of Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. 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 report on Thursday, October 9th. Finally, Argus boosted their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $110.44.

Medtronic Stock Performance

NYSE MDT opened at $99.86 on Monday. The company has a fifty day moving average price of $97.27 and a 200-day moving average price of $92.96. The firm has a market cap of $128.02 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating 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 company had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the firm earned $1.26 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, December 26th. Medtronic’s dividend payout ratio is 76.55%.

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.