Cooke & Bieler LP Reduces Position in Medtronic PLC $MDT

Cooke & Bieler LP trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 948,445 shares of the medical technology company’s stock after selling 108,273 shares during the period. Cooke & Bieler LP’s holdings in Medtronic were worth $90,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in shares of Medtronic during the second quarter valued at approximately $27,000. Corundum Trust Company INC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Medtronic in the third quarter worth $33,000. Tripletail Wealth Management LLC purchased a new stake in Medtronic in the third quarter worth $34,000. Finally, GFG Capital LLC bought a new position in shares of Medtronic in the second quarter worth about $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. TD Cowen reissued a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Citigroup raised their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Leerink Partners set a $120.00 target price on Medtronic and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. raised their price target on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Fourteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $110.28.

Medtronic Stock Performance

Shares of MDT opened at $100.98 on Monday. Medtronic PLC has a 12 month low of $79.55 and a 12 month high of $106.33. The stock has a fifty day moving average price of $99.44 and a 200-day moving average price of $95.32. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The firm has a market cap of $129.45 billion, a PE ratio of 27.22, a P/E/G ratio of 2.66 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the business posted $1.26 earnings per share. The firm’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. Equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid 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 presently 76.55%.

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).