Greenfield Savings Bank Sells 476 Shares of Medtronic PLC $MDT

Greenfield Savings Bank reduced its position in shares of Medtronic PLC (NYSE:MDT) by 12.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,313 shares of the medical technology company’s stock after selling 476 shares during the quarter. Greenfield Savings Bank’s holdings in Medtronic were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Boston Partners raised its holdings in shares of Medtronic by 122.8% in the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after acquiring an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the period. Nuveen LLC bought a new stake in shares of Medtronic in the 1st quarter valued at about $260,649,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in shares of Medtronic in the 4th quarter worth approximately $174,329,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.2%

Shares of NYSE:MDT opened at $94.05 on Friday. The business’s 50-day moving average is $91.50 and its 200 day moving average is $88.27. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25. The firm has a market capitalization of $120.64 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

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

Medtronic Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. Citigroup lifted their price objective on shares of Medtronic from $99.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 21st. UBS Group lifted their price target on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Wells Fargo & Company upped their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Finally, Evercore ISI boosted 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 analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.14.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the firm’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 completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of the stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade 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.