Medtronic PLC $MDT Shares Bought by Keybank National Association OH

Keybank National Association OH lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 486,673 shares of the medical technology company’s stock after acquiring an additional 14,028 shares during the quarter. Keybank National Association OH’s holdings in Medtronic were worth $41,995,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Genesis Private Wealth LLC grew its stake in Medtronic by 2.0% in the 3rd quarter. Genesis Private Wealth LLC now owns 5,170 shares of the medical technology company’s stock valued at $446,000 after purchasing an additional 103 shares during the period. LightSquare Wealth Management LLC raised its stake in shares of Medtronic by 3.6% during the 3rd quarter. LightSquare Wealth Management LLC now owns 2,932 shares of the medical technology company’s stock worth $253,000 after purchasing an additional 103 shares during the period. Kennebec Savings Bank raised its stake in shares of Medtronic by 1.2% during the 3rd quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company’s stock worth $794,000 after purchasing an additional 110 shares during the period. Petredis Investment Advisors LLC raised its stake in shares of Medtronic by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock worth $2,275,000 after purchasing an additional 114 shares during the period. Finally, Aviance Capital Partners LLC raised its stake in shares of Medtronic by 2.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company’s stock worth $472,000 after purchasing an additional 114 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial restated a “hold” rating and set a $99.00 price target (up from $86.00) on shares of Medtronic in a research report on Wednesday, September 2nd. Robert W. Baird raised their price objective on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Weiss Ratings raised shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Finally, Wells Fargo & Company boosted their target price on shares of Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the 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 transaction, the executive vice president owned 42,186 shares in the company, valued at $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the transaction, the chief executive officer owned 277,866 shares of the company’s stock, valued at $26,397,270. The trade was a 15.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 61,903 shares of company stock worth $5,889,203. Company insiders own 0.27% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $101.53 on Wednesday. The company has a market capitalization of $129.87 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.41 and a beta of 0.56. The business has a fifty day simple moving average of $93.15 and a two-hundred day simple moving average of $88.46. 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 PLC has a 1 year low of $73.31 and a 1 year high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $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. On average, analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, September 25th. Medtronic’s payout ratio is currently 70.94%.

Medtronic Profile

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products. The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.