Cardinal Capital Management Inc. Grows Stock Position in Medtronic PLC $MDT

Key Points

• Cardinal Capital Management increased its Medtronic position by 5.9% in the second quarter, bringing its holdings to 329,175 shares valued at approximately $25.8 million. Institutional investors collectively own 82.06% of the company.
• Medtronic reported quarterly revenue of $9.81 billion and EPS of $1.55, exceeding analyst estimates, while revenue grew 9.9% year over year. The company maintained FY2027 EPS guidance of $5.90–$6.00.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $98.83. Medtronic also raised its quarterly dividend to $0.72 per share, representing a 3.2% annualized yield.

Cardinal Capital Management Inc. raised its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,175 shares of the medical technology company's stock after buying an additional 18,264 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Medtronic were worth $25,751,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Madison Asset Management LLC grew its stake in shares of Medtronic by 15.0% during the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company's stock valued at $18,752,000 after buying an additional 25,527 shares during the period. Ticino Wealth acquired a new position in Medtronic in the fourth quarter valued at $2,049,000. First Eagle Investment Management LLC grew its position in Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company's stock valued at $939,009,000 after acquiring an additional 40,196 shares during the period. KBC Group NV increased its stake in Medtronic by 5.2% during the fourth quarter. KBC Group NV now owns 430,508 shares of the medical technology company's stock worth $41,354,000 after acquiring an additional 21,384 shares during the last quarter. Finally, Gradient Investments LLC raised its holdings in shares of Medtronic by 3.9% in the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company's stock worth $38,842,000 after purchasing an additional 18,509 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analyst upgrades reinforce the turnaround thesis. UBS upgraded Medtronic to Buy from Neutral, citing evidence that a turnaround is underway. Additional analyst upgrades point to the company’s strongest annual revenue growth in roughly a decade, driven by its cardiac portfolio and new product launches. Medtronic Wins Analyst Upgrades, Is It Fully Priced?
• Positive Sentiment: Options activity signals increased bullish interest. Investors purchased 19,654 MDT call options, 56% above typical daily call volume. While this is speculative rather than a fundamental measure, it suggests rising short-term trader interest.
• Positive Sentiment: Growth opportunities remain substantial in cardiac care. A new industry report projects the global pulsed-field ablation market to grow from approximately $3.2 billion in 2026 to $14.6 billion by 2035. Medtronic is listed among the major competitors that could benefit from expanding adoption of the technology. Pulsed Field Ablation Global Market Report 2026
• Positive Sentiment: Pipeline collaboration is progressing. Orchestra BioMed said its BACKBEAT pivotal trial, conducted with Medtronic, remains on track to reach its enrollment target by the end of the third quarter, with primary data expected in the second quarter of 2027. Successful results could create an additional future growth driver. Orchestra BioMed Reports Second Quarter Results
• Neutral Sentiment: Valuation is becoming a key investor question. After its recent advance, investors are assessing whether Medtronic’s improving outlook is already reflected in the share price. The company’s forward growth, dividend support and FY2027 EPS guidance of $5.90–$6.00 provide fundamental support, but continued gains may require evidence that the recovery is sustainable.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research reports. UBS Group upgraded Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $100.00 in a report on Tuesday, July 28th. Leerink Partners decreased their price objective on shares of Medtronic from $117.00 to $104.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Rothschild & Co Redburn cut their target price on shares of Medtronic from $111.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Wells Fargo & Company decreased their price target on shares of Medtronic from $114.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, June 4th. Finally, Robert W. Baird cut their price objective on Medtronic from $93.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and an average price target of $98.83.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock opened at $90.55 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The company's fifty day moving average price is $82.59 and its two-hundred day moving average price is $86.48. The firm has a market capitalization of $115.91 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.40 and a beta of 0.55. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This is an increase from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. Medtronic's dividend payout ratio (DPR) is currently 77.21%.

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).

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