Bank of Jackson Hole Trust Buys 628 Shares of Medtronic PLC $MDT

Bank of Jackson Hole Trust increased its stake in shares of Medtronic PLC (NYSE:MDT) by 19.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,838 shares of the medical technology company’s stock after acquiring an additional 628 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Medtronic were worth $335,000 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 MDT. 1248 Management LLC bought a new position in Medtronic during the first quarter worth $26,000. Columbia River Financial Group LLC bought a new position in Medtronic during the first quarter worth $28,000. Twin Tree Management LP bought a new position in Medtronic during the first quarter worth $29,000. Activest Wealth Management increased its position in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares during the period. Finally, Hughes Financial Services LLC bought a new position in Medtronic during the first quarter worth $32,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MDT. Daiwa Capital Markets boosted their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. Sanford C. Bernstein boosted their price target on shares of Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Argus boosted their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Truist Financial boosted their price target on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, UBS Group boosted their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $102.82.

Medtronic Trading Down 0.8%

Shares of MDT stock opened at $93.33 on Wednesday. The company has a market capitalization of $119.72 billion, a P/E ratio of 25.71, a P/E/G ratio of 2.48 and a beta of 0.78. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $94.42 and a 200 day moving average price of $89.55.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Medtronic’s payout ratio is currently 78.24%.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, 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 disclosure for this sale is available in the SEC filing. 0.26% of the stock is currently owned by insiders.

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.