Cooke & Bieler LP Has $92.11 Million Holdings in Medtronic PLC $MDT

Cooke & Bieler LP cut its stake in shares of Medtronic PLC (NYSE:MDT) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,056,718 shares of the medical technology company’s stock after selling 29,016 shares during the period. Cooke & Bieler LP owned approximately 0.08% of Medtronic worth $92,114,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MDT. Boston Partners grew its position in shares of Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after buying an additional 3,809,450 shares during the period. Ameriprise Financial Inc. grew its position in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after buying an additional 3,461,221 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC acquired a new position in Medtronic during the first quarter valued at approximately $260,649,000. Finally, Mackenzie Financial Corp grew its holdings in Medtronic by 220.9% during the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock valued at $216,753,000 after purchasing an additional 1,660,357 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Daiwa Capital Markets boosted their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Citigroup boosted their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Stifel Nicolaus boosted their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Trading Down 0.2%

NYSE:MDT opened at $90.82 on Friday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $94.35 and a two-hundred day moving average price of $89.67. The company has a market cap of $116.49 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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 return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.

Insider Transactions at Medtronic

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

Medtronic Company 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.