Cullen Frost Bankers Inc. Sells 7,360 Shares of Medtronic PLC $MDT

Cullen Frost Bankers Inc. decreased its position in Medtronic PLC (NYSE:MDT) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,901 shares of the medical technology company’s stock after selling 7,360 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Medtronic were worth $24,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Red Spruce Capital LLC lifted its position in Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after buying an additional 118 shares during the last quarter. Certior Financial Group LLC lifted its position in Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after buying an additional 122 shares during the last quarter. Cidel Asset Management Inc. lifted its position in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after buying an additional 126 shares during the last quarter. Petros Family Wealth LLC lifted its position in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after buying an additional 127 shares during the last quarter. Finally, PrairieView Partners LLC lifted its position in Medtronic by 3.6% in the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock worth $324,000 after buying an additional 128 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MDT. Royal Bank Of Canada restated an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a research report on Friday, October 10th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a research note on Friday, July 11th. The Goldman Sachs Group decreased their price target on Medtronic from $82.00 to $81.00 and set a “sell” rating on the stock in a research note on Wednesday, October 1st. William Blair raised Medtronic to a “hold” rating in a research note on Friday, July 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Price Performance

MDT opened at $95.84 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37. The stock has a market capitalization of $122.93 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.78. The stock’s 50 day moving average price is $94.20 and its 200-day moving average price is $89.13.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s payout ratio is 78.24%.

Medtronic 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.