Chemung Canal Trust Co. Decreases Holdings in Medtronic PLC $MDT

Chemung Canal Trust Co. decreased its holdings in Medtronic PLC (NYSE:MDT) by 24.2% in the first quarter, Holdings Channel reports. The fund owned 50,957 shares of the medical technology company’s stock after selling 16,261 shares during the quarter. Chemung Canal Trust Co.’s holdings in Medtronic were worth $4,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lodestone Wealth Management LLC bought a new stake in Medtronic during the fourth quarter worth approximately $27,000. Anfield Capital Management LLC lifted its stake in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Monetary Solutions Ltd bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $27,000. Board of the Pension Protection Fund purchased a new position in shares of Medtronic in the 4th quarter worth approximately $29,000. Finally, GoalVest Advisory LLC purchased a new position in shares of Medtronic in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.5%

MDT stock opened at $80.94 on Friday. The company has a market capitalization of $103.60 billion, a PE ratio of 21.70, a P/E/G ratio of 2.17 and a beta of 0.58. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The firm’s 50-day moving average is $79.39 and its 200 day moving average is $89.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.87.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is presently 76.14%.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Analysts highlighted Medtronic’s positioning in cardiac ablation, diabetes care, and hypertension treatment, including progress with its FDA-approved Symplicity Spyral renal denervation system, which supports the long-term growth story. How Investors May Respond To Medtronic (MDT) Optimism On Renal Denervation Amid Mixed Quantitative Signals
• Positive Sentiment: Medtronic shares have also benefited recently from broad interest around its medical device pipeline and relatively steady operating performance, helping offset some short-term caution.
• Neutral Sentiment: Unusually high options volume suggests traders are positioning for a larger move in MDT, but the direction is not definitive on its own.
• Negative Sentiment: CEO Geoffrey Martha said tariff costs are now expected to total about $250 million in fiscal 2027, which is still a meaningful headwind despite being lower than the prior $300 million estimate. Medtronic plc (MDT) CEO Discloses the Impacts of Tariffs on the Company
• Negative Sentiment: Heavy put buying — about 25,075 contracts, well above normal levels — points to bearish sentiment and concern that the shares could weaken further.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MDT shares. Needham & Company LLC restated a “buy” rating and set a $101.00 price target on shares of Medtronic in a report on Wednesday, June 17th. Piper Sandler reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Medtronic in a research note on Tuesday, June 16th. Wells Fargo & Company dropped their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. BTIG Research upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Wednesday, June 3rd. Finally, Citigroup reduced their target price on shares of Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.00.

Insider Activity

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

Medtronic 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).