Medtronic PLC $MDT Shares Acquired by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT boosted its holdings in Medtronic PLC (NYSE:MDT) by 124.4% during the 2nd quarter, Holdings Channel reports. The fund owned 84,120 shares of the medical technology company’s stock after acquiring an additional 46,637 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Medtronic were worth $6,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MDT. Madison Asset Management LLC lifted its holdings in shares of Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock valued at $18,752,000 after buying an additional 25,527 shares during the period. Ticino Wealth acquired a new stake in Medtronic in the 4th quarter valued at about $2,049,000. First Eagle Investment Management LLC boosted its position in shares of Medtronic by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after purchasing an additional 40,196 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock valued at $38,842,000 after purchasing an additional 18,509 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of Medtronic by 4.7% in the 2nd quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after purchasing an additional 16,292 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.2%

NYSE:MDT opened at $91.10 on Monday. The stock has a market cap of $116.62 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The stock’s 50-day moving average is $83.20 and its two-hundred day moving average is $86.26.

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

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is 77.21%.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDT. Robert W. Baird reduced their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. JPMorgan Chase & Co. reduced their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Sanford C. Bernstein reduced their target price on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price target on Medtronic in a research note on Wednesday, June 3rd. Finally, Rothschild & Co Redburn reduced their price objective on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.83.

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).