14,759 Shares of Medtronic PLC $MDT Acquired by NBT Bank N.A.

NBT Bank N.A. purchased a new stake in shares of Medtronic PLC (NYSE:MDT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,759 shares of the medical technology company’s stock, valued at approximately $1,274,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Medtronic by 0.7% in the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after buying an additional 838,220 shares during the period. State Street Corp raised its holdings in Medtronic by 2.7% in the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after buying an additional 1,658,301 shares during the last quarter. Bank of America Corp DE raised its holdings in Medtronic by 5.4% in the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after buying an additional 1,343,220 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Medtronic by 37.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after buying an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $965,922,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 1.1%

MDT opened at $95.48 on Friday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $91.43 and a 200-day moving average of $85.30. The stock has a market cap of $122.13 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. Medtronic’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.98 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 70.94%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Medtronic in a research report on Wednesday, September 30th. Wells Fargo & Company raised their price target on shares of Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. Finally, Truist Financial reissued a “hold” rating and issued a $99.00 price objective (up from $86.00) on shares of Medtronic in a research note on Wednesday, September 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Insider Transactions at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the transaction, the executive vice president directly owned 42,186 shares of the company’s stock, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the completion of the sale, the chief executive officer owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. The trade was a 15.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 61,903 shares of company stock valued at $5,889,203. Corporate insiders own 0.27% of the company’s stock.

Medtronic Profile

Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.