Cambiar Investors LLC Cuts Holdings in Medtronic PLC $MDT

Key Points

• Cambiar Investors LLC has reduced its stake in Medtronic PLC by 0.9%, holding 649,070 shares after selling 5,729 shares in the first quarter.
• Medtronic recently reported $1.62 EPS for the quarter, surpassing analyst expectations and marking a 3.9% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.71 per share, representing a yield of 3.1%, with the dividend payment scheduled for October 17th.

Cambiar Investors LLC reduced its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 649,070 shares of the medical technology company's stock after selling 5,729 shares during the period. Medtronic accounts for approximately 2.5% of Cambiar Investors LLC's holdings, making the stock its 6th biggest position. Cambiar Investors LLC owned about 0.05% of Medtronic worth $58,325,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Burkett Financial Services LLC increased its position in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $28,000. Optiver Holding B.V. acquired a new stake in shares of Medtronic during the 4th quarter worth about $31,000. Finally, Hughes Financial Services LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $32,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group increased their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Leerink Partners assumed coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.15.

Medtronic Price Performance

MDT traded down $2.1020 on Thursday, hitting $91.1180. 6,372,578 shares of the stock were exchanged, compared to its average volume of 7,754,595. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm has a market capitalization of $116.80 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.33 and a beta of 0.80. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The business has a 50-day moving average of $89.57 and a two-hundred day moving average of $88.02.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm had revenue of $8.58 billion during 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 business's quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic's dividend payout ratio is presently 78.24%.

Medtronic Company Profile

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.