Cambiar Investors LLC Has $47.89 Million Holdings in Medtronic PLC $MDT

Cambiar Investors LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 612,194 shares of the medical technology company's stock after purchasing an additional 36,906 shares during the quarter. Medtronic accounts for 2.1% of Cambiar Investors LLC's holdings, making the stock its 15th largest position. Cambiar Investors LLC's holdings in Medtronic were worth $47,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Anfield Capital Management LLC boosted 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 valued at $27,000 after buying an additional 230 shares during the period. Monetary Solutions Ltd bought a new position in Medtronic during the 4th quarter worth $27,000. Acumen Wealth Advisors LLC bought a new position in Medtronic during the 4th quarter worth $29,000. Imprint Wealth LLC acquired a new position in Medtronic in the 3rd quarter valued at $31,000. Finally, Basepoint Wealth LLC acquired a new position in Medtronic in the 4th quarter valued at $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group raised Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $100.00 in a report on Tuesday, July 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $118.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Weiss Ratings downgraded Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Mizuho cut their price objective on shares of Medtronic from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.83.

Medtronic Stock Down 0.2%

NYSE MDT opened at $91.10 on Monday. The business has a fifty day moving average price of $83.20 and a two-hundred day moving average price of $86.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock has a market capitalization of $116.62 billion, a PE ratio of 24.42, a PEG ratio of 2.45 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter last year, the business posted $1.62 EPS. The company's 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. Equities analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.2%. This is a boost from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's payout ratio is 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total value 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.

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).

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