Cape ANN Savings Bank Raises Stock Position in Medtronic PLC $MDT

Cape ANN Savings Bank lifted its stake in Medtronic PLC (NYSE:MDT) by 271.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,677 shares of the medical technology company’s stock after buying an additional 7,805 shares during the quarter. Cape ANN Savings Bank’s holdings in Medtronic were worth $931,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MDT. Corundum Group Inc. raised its stake in Medtronic by 4.1% in the second quarter. Corundum Group Inc. now owns 8,359 shares of the medical technology company’s stock worth $729,000 after buying an additional 328 shares in the last quarter. Boyar Asset Management Inc. grew its holdings in shares of Medtronic by 8.9% during the 2nd quarter. Boyar Asset Management Inc. now owns 6,169 shares of the medical technology company’s stock worth $538,000 after acquiring an additional 506 shares during the period. Stock Yards Bank & Trust Co. raised its position in shares of Medtronic by 18.1% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 13,334 shares of the medical technology company’s stock worth $1,162,000 after acquiring an additional 2,045 shares in the last quarter. Ascent Group LLC raised its position in shares of Medtronic by 121.9% in the 2nd quarter. Ascent Group LLC now owns 38,301 shares of the medical technology company’s stock worth $3,339,000 after acquiring an additional 21,038 shares in the last quarter. Finally, Two Point Capital Management Inc. purchased a new position in shares of Medtronic in the 2nd quarter valued at approximately $6,382,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $97.63 on Friday. The company has a market capitalization of $125.23 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. 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 one year low of $79.29 and a one year high of $97.94. The company’s 50-day moving average is $92.94 and its 200 day moving average is $88.50.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 during 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 business’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. Sell-side analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors 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 2.9%. Medtronic’s dividend payout ratio is 78.24%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein upped their price target on Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Leerink Partners started coverage on shares of Medtronic in a research report on Monday, June 16th. They issued an “outperform” rating and a $110.00 target price on the stock. Argus lifted their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. 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. Finally, Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.27.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction 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 sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.

About Medtronic

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.