Medtronic PLC $MDT Shares Purchased by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. grew its holdings in Medtronic PLC (NYSE:MDT) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 340,500 shares of the medical technology company’s stock after buying an additional 11,325 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Medtronic were worth $29,382,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Cyndeo Wealth Partners LLC lifted its position in shares of Medtronic by 4.6% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 7,680 shares of the medical technology company’s stock worth $663,000 after buying an additional 339 shares during the period. Pension & Wealth Management Advisors Inc. boosted its stake in Medtronic by 64.1% in the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 2,556 shares of the medical technology company’s stock valued at $221,000 after buying an additional 998 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in Medtronic by 2.0% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 167,041 shares of the medical technology company’s stock valued at $14,414,000 after buying an additional 3,243 shares in the last quarter. Riverbend Wealth Management LLC grew its position in Medtronic by 5.0% in the third quarter. Riverbend Wealth Management LLC now owns 4,377 shares of the medical technology company’s stock valued at $378,000 after acquiring an additional 208 shares during the period. Finally, Ellsworth Advisors LLC grew its position in Medtronic by 4.5% in the third quarter. Ellsworth Advisors LLC now owns 78,115 shares of the medical technology company’s stock valued at $6,741,000 after acquiring an additional 3,356 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.7%

NYSE MDT opened at $94.79 on Friday. The stock’s 50 day simple moving average is $91.03 and its 200 day simple moving average is $85.01. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The firm has a market cap of $121.25 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (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 the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 forecast that Medtronic PLC will post 5.98 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were paid a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is 70.94%.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Barclays upgraded Medtronic to a “hold” rating in a research note on Wednesday, October 7th. BTIG Research reduced their target price on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Medtronic in a report on Wednesday, September 30th. Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Finally, Robert W. Baird increased their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Medtronic News Summary

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?

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 10,420 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $96.00, for a total transaction of $1,000,320.00. Following the sale, the executive vice president owned 105,916 shares of the company’s stock, valued at $10,167,936. This represents a 8.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the sale, the executive vice president owned 42,186 shares of the company’s stock, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,903 shares of company stock valued at $5,889,203 over the last ninety days. 0.27% of the stock is owned by insiders.

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.