Cibc World Market Inc. Has $40.27 Million Holdings in Medtronic PLC $MDT

Key Points

• Cibc World Market Inc. increased its Medtronic stake by 17% in the fourth quarter, bringing its holdings to 419,242 shares valued at about $40.27 million.
• Medtronic reported quarterly earnings and revenue that beat analyst estimates, with revenue up 9.9% year over year, helping support optimism around the stock.
• The company also raised its quarterly dividend to $0.72 per share, lifting the annualized yield to about 3.5% and signaling confidence in cash generation.

Cibc World Market Inc. raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,242 shares of the medical technology company's stock after purchasing an additional 60,804 shares during the period. Cibc World Market Inc.'s holdings in Medtronic were worth $40,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company's stock valued at $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. State Street Corp raised its stake in shares of Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company's stock valued at $5,800,550,000 after acquiring an additional 625,992 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company's stock worth $2,665,832,000 after purchasing an additional 231,919 shares during the last quarter. Norges Bank acquired a new position in Medtronic during the 4th quarter worth about $1,653,485,000. Finally, Raymond James Financial Inc. lifted its position in shares of Medtronic by 3.0% during the third quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company's stock worth $1,067,055,000 after purchasing an additional 327,899 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of MDT opened at $81.95 on Friday. The stock has a market cap of $105.22 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 1.89 and a beta of 0.58. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock's 50-day moving average price is $81.58 and its two-hundred day moving average price is $92.11. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly 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 net margin of 13.20% and a return on equity of 14.61%. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the company posted $1.62 EPS. Medtronic's revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts predict that Medtronic PLC will post 5.97 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.5%. This is a boost from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic's dividend payout ratio (DPR) is 79.11%.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic beat fiscal Q4 revenue and earnings estimates, driven by strong demand in cardiovascular devices, cardiac ablation, and medical-surgical products, which helped fuel the stock’s rebound.
• Positive Sentiment: The company raised its quarterly dividend to $0.72 per share, signaling confidence in cash generation and rewarding income-focused investors.
• Positive Sentiment: Management highlighted expanded Hugo robotic-assisted surgery filings and FDA activity, suggesting additional growth opportunities in surgical robotics. Medtronic submits 510(k) filings to expand Hugo robotic-assisted surgery system into general and gynecologic specialties in the United States
• Positive Sentiment: Several analysts maintained or upgraded bullish views, including BTIG’s upgrade to Buy and TD Cowen’s reiterated Buy, reinforcing optimism after the earnings beat. Wall Street May Be Mispricing Medtronic, Analyst Says
• Neutral Sentiment: Some analysts trimmed price targets while keeping neutral or hold ratings, including JPMorgan, Piper Sandler, Goldman Sachs, Baird, and Deutsche Bank, which reflects more cautious valuation views rather than a major change in the long-term story.
• Neutral Sentiment: Medtronic is also managing cardiovascular device recalls tied to sterile barrier concerns, creating an ongoing overhang even as newer product launches gain traction.
• Negative Sentiment: FY2027 EPS guidance came in slightly below the consensus estimate, and management noted tariff-related and margin pressure concerns, which may limit further upside. MDT Q4 Earnings Call Points to Another Year of Growth

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial decreased their price target on Medtronic from $95.00 to $86.00 and set a "hold" rating on the stock in a report on Thursday. Daiwa Securities Group dropped their price objective on Medtronic from $117.00 to $115.00 and set a "buy" rating for the company in a report on Friday, February 27th. Barclays upped their target price on shares of Medtronic from $118.00 to $120.00 and gave the company an "overweight" rating in a research report on Wednesday, April 1st. The Goldman Sachs Group lowered their price target on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a research note on Wednesday. Sixteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.70.

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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