Medtronic PLC $MDT Shares Sold by US Bancorp DE

US Bancorp DE reduced its position in Medtronic PLC (NYSE:MDT) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,301,958 shares of the medical technology company’s stock after selling 97,898 shares during the quarter. US Bancorp DE’s holdings in Medtronic were worth $113,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. 1248 Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $26,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the first quarter worth $28,000. Twin Tree Management LP acquired a new position in Medtronic during the first quarter worth $29,000. Activest Wealth Management raised its position in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in Medtronic during the first quarter worth $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Citigroup upped their target price on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Evercore ISI upped their target price on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.63.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $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.

Medtronic Trading Down 0.5%

Shares of MDT opened at $97.88 on Thursday. 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 $99.37. The firm has a 50-day moving average price of $93.31 and a 200 day moving average price of $88.65. The firm has a market capitalization of $125.55 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.59 and a beta of 0.78.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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 firm had revenue of $8.58 billion during 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

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.