Cardinal Capital Management Inc. Buys 11,325 Shares of Medtronic PLC $MDT

Key Points

• Cardinal Capital Management increased its Medtronic stake by 3.4%, purchasing 11,325 additional shares to hold 340,500 shares valued at approximately $29.4 million. Institutional investors collectively own 82.06% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $102.88, compared with the stock’s reported price of $94.79.
• Medtronic exceeded quarterly earnings and revenue expectations, reporting $1.45 in EPS on $9.76 billion in revenue, while maintaining a quarterly dividend of $0.72 per share, equivalent to a 3.0% yield.

Cardinal Capital Management Inc. increased its stake in Medtronic PLC (NYSE:MDT - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 340,500 shares of the medical technology company's stock after purchasing an additional 11,325 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Medtronic were worth $29,382,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock valued at $8,919,846,000 after purchasing an additional 838,220 shares during the period. State Street Corp lifted its stake in shares of Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company's stock worth $5,005,320,000 after buying an additional 1,658,301 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Medtronic by 5.4% during the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company's stock worth $2,254,200,000 after buying an additional 1,343,220 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Medtronic by 37.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company's stock worth $1,078,321,000 after buying an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC bought a new stake in shares of Medtronic during the 1st quarter worth $965,922,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MDT. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, October 3rd. Truist Financial reissued a "hold" rating and set a $99.00 target price (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Weiss Ratings upgraded shares of Medtronic from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, September 4th. Needham & Company LLC reaffirmed a "buy" rating on shares of Medtronic in a research report on Thursday, September 17th. Finally, Barclays raised Medtronic to a "hold" rating in a research report on Wednesday, October 7th. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $102.88.

Medtronic Stock Down 0.7%

MDT opened at $94.79 on Friday. The business has a 50 day moving average of $91.03 and a 200-day moving average of $85.01. The stock has a market capitalization of $121.25 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.17 and a beta of 0.55. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business's quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.0%. Medtronic's payout ratio is presently 70.94%.

Insider Transactions at Medtronic

In related news, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the sale, the chief executive officer directly owned 277,866 shares of the company's stock, valued at $26,397,270. This trade represents a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is currently owned by company insiders.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s Stealth AXiS surgical system and Corsano multi-parameter wearable were named to TIME’s 2026 Best Inventions list. The recognition supports the company’s innovation strategy and could improve visibility for its surgical and monitoring businesses. Medtronic Named to TIME Best Inventions of 2026
• Positive Sentiment: Medtronic continues expanding in cardiac ablation, robotics, hypertension and digital surgery. Recent sales and profit growth, along with a raised fiscal outlook, provide support for the longer-term investment case. Is Medtronic Stock a Buy Now That Sales Growth Has Picked Up?
• Neutral Sentiment: Medtronic completed the separation of MiniMed, exchanging its remaining shares and leaving the diabetes-technology company fully independent. The transaction simplifies MDT’s portfolio and may allow greater focus on higher-growth medical-device businesses, but it also removes direct ownership of MiniMed and changes the company’s revenue mix. Medtronic Completes Separation of MiniMed Group
• Negative Sentiment: Analyst sentiment remains cautious: Piper Sandler assigned a Hold rating, while Barclays began coverage at Equal Weight. These ratings suggest limited near-term upside after MDT’s recent advance. Medtronic Receives a Hold from Piper Sandler
• Negative Sentiment: Tariffs, inflation and unfavorable currency movements could pressure Medtronic’s margins. ETFs also reportedly sold $222.5 million of MDT shares on October 13, adding a potential short-term technical headwind. Is it Apt to Retain Medtronic Stock in Your Portfolio Now?

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company's portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.

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