Farmers & Merchants Trust Co of Chambersburg PA Grows Holdings in Medtronic PLC $MDT

Farmers & Merchants Trust Co of Chambersburg PA raised its position in Medtronic PLC (NYSE:MDT) by 15.6% during the second quarter, Holdings Channel.com reports. The firm owned 6,897 shares of the medical technology company’s stock after buying an additional 931 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Medtronic were worth $601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Legacy Advisory Services LLC purchased a new position in shares of Medtronic during the 1st quarter worth about $541,000. RNC Capital Management LLC lifted its holdings in shares of Medtronic by 8.8% during the 1st quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company’s stock worth $37,474,000 after acquiring an additional 33,729 shares during the period. Commerce Bank lifted its holdings in shares of Medtronic by 1.7% during the 1st quarter. Commerce Bank now owns 145,984 shares of the medical technology company’s stock worth $13,118,000 after acquiring an additional 2,429 shares during the period. Brighton Jones LLC lifted its holdings in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Finally, Cullen Investment Group LTD. lifted its holdings in shares of Medtronic by 7.2% during the 2nd quarter. Cullen Investment Group LTD. now owns 85,921 shares of the medical technology company’s stock worth $7,490,000 after acquiring an additional 5,802 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Citigroup increased their target price on shares of Medtronic from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. William Blair raised shares of Medtronic to a “hold” rating in a research report on Friday, July 11th. Finally, Leerink Partners assumed coverage on shares of Medtronic in a research report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $102.27.

Medtronic Trading Up 0.4%

Shares of NYSE MDT opened at $94.57 on Thursday. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25. The firm has a market capitalization of $121.30 billion, a PE ratio of 26.05, a PEG ratio of 2.48 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $91.83 and a two-hundred day moving average price of $88.34.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 return on equity of 14.61% and a net margin of 13.63%.The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 26th. Medtronic’s payout ratio is 78.24%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was bought 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 owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

Medtronic Profile

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.