Cullen Capital Management LLC Has $239.69 Million Holdings in Medtronic PLC $MDT

Cullen Capital Management LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 6.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,495,206 shares of the medical technology company’s stock after selling 177,169 shares during the quarter. Medtronic accounts for about 2.6% of Cullen Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Cullen Capital Management LLC owned 0.19% of Medtronic worth $239,690,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic in the fourth quarter worth approximately $27,000. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares during the period. Board of the Pension Protection Fund bought a new stake in shares of Medtronic in the fourth quarter worth approximately $29,000. GoalVest Advisory LLC bought a new stake in shares of Medtronic in the fourth quarter worth approximately $29,000. Finally, Imprint Wealth LLC bought a new stake in shares of Medtronic in the third quarter worth approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDT. Evercore set a $106.00 price target on shares of Medtronic and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Mizuho decreased their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $88.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Argus dropped their price target on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Citigroup dropped their price target on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Medtronic Price Performance

MDT stock opened at $80.11 on Friday. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The company’s fifty day moving average price is $80.85 and its 200-day moving average price is $91.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company has a market capitalization of $102.85 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.61%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

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).