Community Bank & Trust Waco Texas Increases Stock Position in Medtronic PLC $MDT

Community Bank & Trust Waco Texas lifted its holdings in Medtronic PLC (NYSE:MDT) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,157 shares of the medical technology company’s stock after purchasing an additional 389 shares during the period. Community Bank & Trust Waco Texas’ holdings in Medtronic were worth $1,583,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Legacy Advisory Services LLC purchased a new stake in shares of Medtronic in the 1st quarter worth approximately $541,000. RNC Capital Management LLC lifted its position in shares of Medtronic by 8.8% in the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after purchasing an additional 33,729 shares during the period. Commerce Bank raised its stake in shares of Medtronic by 1.7% during the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after acquiring an additional 2,429 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Finally, GC Wealth Management RIA LLC raised its stake in shares of Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after acquiring an additional 5,734 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. Leerink Partners initiated coverage on shares of Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective for the company. Wolfe Research upgraded shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Citigroup boosted their price objective on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Mizuho boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Finally, Argus boosted their price objective on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $102.27.

Medtronic Trading Up 1.3%

Shares of Medtronic stock opened at $95.23 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The firm has a market capitalization of $122.15 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.47 and a beta of 0.77. The firm’s 50 day simple moving average is $92.73 and its two-hundred day simple moving average is $88.40.

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

Medtronic Announces Dividend

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

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, 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 corporate insiders.

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.