Caisse DE Depot ET Placement DU Quebec Acquires 582,735 Shares of Medtronic PLC $MDT

Caisse DE Depot ET Placement DU Quebec increased its holdings in Medtronic PLC (NYSE:MDT) by 26.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,799,706 shares of the medical technology company’s stock after purchasing an additional 582,735 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Medtronic were worth $251,582,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Apexium Financial LP bought a new stake in Medtronic in the first quarter worth $222,000. Campbell & CO Investment Adviser LLC bought a new stake in Medtronic in the first quarter worth $3,122,000. Dodge & Cox boosted its stake in Medtronic by 0.6% during the first quarter. Dodge & Cox now owns 7,708,833 shares of the medical technology company’s stock worth $692,716,000 after buying an additional 47,708 shares during the period. Smartleaf Asset Management LLC boosted its stake in Medtronic by 9.5% during the first quarter. Smartleaf Asset Management LLC now owns 16,450 shares of the medical technology company’s stock worth $1,442,000 after buying an additional 1,429 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Medtronic by 7.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 160,311 shares of the medical technology company’s stock worth $14,405,000 after buying an additional 10,706 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.7%

Shares of MDT opened at $92.6210 on Monday. The firm has a market capitalization of $118.72 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.35 and a beta of 0.80. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $89.73 and a 200-day moving average price of $87.99.

Medtronic (NYSE:MDT) last released 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 14.56%. The company had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s payout ratio is currently 78.24%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MDT shares. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. Robert W. Baird lifted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.15.

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.