Keybank National Association OH Buys 14,028 Shares of Medtronic PLC $MDT

Keybank National Association OH increased its stake in shares of Medtronic PLC (NYSE:MDT) by 3.0% during the third quarter, HoldingsChannel.com reports. The firm owned 486,673 shares of the medical technology company’s stock after buying an additional 14,028 shares during the period. Keybank National Association OH’s holdings in Medtronic were worth $41,995,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Genesis Private Wealth LLC grew its holdings in Medtronic by 2.0% during the 3rd quarter. Genesis Private Wealth LLC now owns 5,170 shares of the medical technology company’s stock valued at $446,000 after buying an additional 103 shares in the last quarter. LightSquare Wealth Management LLC increased its position in shares of Medtronic by 3.6% during the third quarter. LightSquare Wealth Management LLC now owns 2,932 shares of the medical technology company’s stock valued at $253,000 after buying an additional 103 shares during the period. Kennebec Savings Bank increased its position in shares of Medtronic by 1.2% during the third quarter. Kennebec Savings Bank now owns 9,201 shares of the medical technology company’s stock valued at $794,000 after buying an additional 110 shares during the period. Petredis Investment Advisors LLC increased its position in shares of Medtronic by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 26,369 shares of the medical technology company’s stock valued at $2,275,000 after buying an additional 114 shares during the period. Finally, Aviance Capital Partners LLC lifted its holdings in shares of Medtronic by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 5,469 shares of the medical technology company’s stock worth $472,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays upgraded shares of Medtronic to a “hold” rating in a research report on Wednesday, October 7th. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research note on Thursday, September 17th. UBS Group reaffirmed a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Mizuho set a $115.00 target price on shares of Medtronic in a research note on Wednesday, September 2nd. Finally, Bank of America increased their target price on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 10,420 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total value of $1,000,320.00. Following the sale, the executive vice president directly owned 105,916 shares of the company’s stock, valued at $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following 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. Over the last 90 days, insiders sold 61,903 shares of company stock valued at $5,889,203. 0.27% of the stock is owned by corporate insiders.

Medtronic Price Performance

Medtronic stock opened at $101.53 on Wednesday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The business has a 50-day simple moving average of $93.15 and a 200 day simple moving average of $88.46. 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 stock has a market cap of $129.87 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.41 and a beta of 0.56.

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. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same period in the prior year, the company earned $1.26 EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. 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, research analysts forecast that Medtronic PLC will post 5.98 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 16th. Stockholders of record on Friday, September 25th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. Medtronic’s payout ratio is presently 70.94%.

Medtronic Profile

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products. The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.