First National Bank of Omaha Acquires 41,150 Shares of Medtronic PLC $MDT

First National Bank of Omaha raised its stake in shares of Medtronic PLC (NYSE:MDT) by 49.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,811 shares of the medical technology company’s stock after buying an additional 41,150 shares during the period. First National Bank of Omaha’s holdings in Medtronic were worth $9,899,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Medtronic during the fourth quarter valued at about $1,653,485,000. WCM Investment Management LLC bought a new position in shares of Medtronic in the first quarter worth about $965,922,000. Capital Research Global Investors lifted its position in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares during the last quarter. Wellington Management Group LLP boosted its stake in Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after purchasing an additional 2,658,981 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after buying an additional 1,888,381 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MDT shares. Truist Financial reduced their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a report on Thursday, June 4th. BTIG Research reiterated a “buy” rating and issued a $91.00 price objective on shares of Medtronic in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Medtronic from $100.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Jefferies Financial Group restated a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein decreased their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.83.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $93.44 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The stock has a market cap of $119.60 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 2.47 and a beta of 0.55. The stock’s 50-day moving average price is $84.39 and its two-hundred day moving average price is $86.06.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

About Medtronic

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).