Park National Corp OH Has $10.93 Million Stock Holdings in Medtronic PLC $MDT

Park National Corp OH trimmed its stake in Medtronic PLC (NYSE:MDT) by 1.1% in the second quarter, HoldingsChannel reports. The firm owned 125,374 shares of the medical technology company’s stock after selling 1,408 shares during the period. Park National Corp OH’s holdings in Medtronic were worth $10,929,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Boston Partners grew its holdings in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after buying an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after buying an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Medtronic by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after buying an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new position in shares of Medtronic during the first quarter valued at about $260,649,000. Finally, Burgundy Asset Management Ltd. acquired a new position in shares of Medtronic during the fourth quarter valued at about $174,329,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 0.2%

Medtronic stock opened at $94.05 on Friday. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The stock has a market cap of $120.64 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The firm’s 50-day simple moving average is $91.50 and its 200 day simple moving average is $88.28. 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 (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business 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 company earned $1.23 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. UBS Group lifted their price objective on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. William Blair upgraded shares of Medtronic to a “hold” rating in a report on Friday, July 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.14.

Insider Transactions at Medtronic

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

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.