Cambiar Investors LLC Cuts Stake in Medtronic PLC $MDT

Cambiar Investors LLC trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 641,942 shares of the medical technology company’s stock after selling 7,128 shares during the period. Medtronic makes up about 2.4% of Cambiar Investors LLC’s holdings, making the stock its 11th biggest holding. Cambiar Investors LLC’s holdings in Medtronic were worth $55,958,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in Medtronic during the 1st quarter valued at about $26,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic during the first quarter valued at $28,000. Twin Tree Management LP bought a new position in shares of Medtronic during the first quarter valued at $29,000. Activest Wealth Management lifted its holdings in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 322 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new position in shares of Medtronic during the first quarter valued at $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.2%

NYSE MDT opened at $90.82 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $99.37. The company has a market capitalization 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. The stock’s 50-day moving average price is $94.35 and its 200-day moving average price is $89.72.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Insider Activity at Medtronic

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

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research analyst reports. William Blair upgraded shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Evercore ISI lifted their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

About Medtronic

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.