Keybank National Association OH Acquires 125,902 Shares of Medtronic PLC $MDT

Keybank National Association OH lifted its stake in Medtronic PLC (NYSE:MDT) by 35.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 484,132 shares of the medical technology company’s stock after acquiring an additional 125,902 shares during the period. Keybank National Association OH’s holdings in Medtronic were worth $41,950,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lodestone Wealth Management LLC bought a new stake in Medtronic in the 4th quarter valued at $27,000. Anfield Capital Management LLC increased its holdings in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Monetary Solutions Ltd bought a new position in shares of Medtronic during the 4th quarter worth about $27,000. Board of the Pension Protection Fund bought a new position in shares of Medtronic during the 4th quarter worth about $29,000. Finally, GoalVest Advisory LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $29,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research reports. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Evercore set a $106.00 price target on Medtronic and gave the company an “outperform” rating in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft cut their price target on Medtronic from $100.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Wells Fargo & Company reduced their price objective on Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $83.07 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The company has a market capitalization of $106.33 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.12 and a beta of 0.56. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The business has a 50 day simple moving average of $79.04 and a 200 day simple moving average of $89.11.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is presently 77.21%.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).