Cardinal Point Capital Management ULC Makes New Investment in Medtronic PLC $MDT

Cardinal Point Capital Management ULC bought a new position in Medtronic PLC (NYSE:MDT) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 7,722 shares of the medical technology company’s stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. RFG Advisory LLC lifted its holdings in Medtronic by 12.2% in the third quarter. RFG Advisory LLC now owns 28,531 shares of the medical technology company’s stock worth $2,717,000 after buying an additional 3,096 shares during the period. Fielder Capital Group LLC bought a new position in shares of Medtronic in the 3rd quarter worth approximately $281,000. Atlanta Consulting Group Advisors LLC lifted its stake in shares of Medtronic by 21.0% in the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 2,926 shares of the medical technology company’s stock valued at $281,000 after purchasing an additional 507 shares during the period. Caliber Wealth Management LLC KS boosted its position in shares of Medtronic by 0.9% during the third quarter. Caliber Wealth Management LLC KS now owns 33,059 shares of the medical technology company’s stock valued at $3,149,000 after purchasing an additional 299 shares in the last quarter. Finally, Plato Investment Management Ltd grew its stake in Medtronic by 5.7% in the third quarter. Plato Investment Management Ltd now owns 42,585 shares of the medical technology company’s stock worth $4,025,000 after purchasing an additional 2,305 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $101.69 on Tuesday. The company has a market capitalization of $130.37 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.71. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33. The stock’s fifty day moving average is $99.37 and its two-hundred day moving average is $96.22. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MDT shares. Barclays raised their price objective on Medtronic from $111.00 to $116.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Robert W. Baird set a $103.00 price target on shares of Medtronic in a research report on Tuesday, December 16th. UBS Group restated a “neutral” rating and issued a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 4th. TD Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Finally, Leerink Partners set a $120.00 price target on Medtronic and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Sixteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.21.

About Medtronic

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).