First Nebraska Trust Co Makes New $6.42 Million Investment in Medtronic PLC $MDT

First Nebraska Trust Co acquired a new position in shares of Medtronic PLC (NYSE:MDT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 74,422 shares of the medical technology company’s stock, valued at approximately $6,422,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in 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 acquiring an additional 838,220 shares during the period. State Street Corp grew its stake in shares of Medtronic by 2.7% during the 2nd quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after purchasing an additional 1,658,301 shares during the period. Bank of America Corp DE grew its stake in shares of Medtronic by 5.4% during the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after purchasing an additional 1,343,220 shares during the period. First Eagle Investment Management LLC grew its stake in shares of 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 purchasing an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC purchased a new position in shares of Medtronic in the 1st quarter valued at about $965,922,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.3%

Medtronic stock opened at $98.95 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The firm has a market capitalization of $126.58 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock’s fifty day moving average is $91.94 and its two-hundred day moving average is $88.36.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $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. Analysts predict that Medtronic PLC will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio is presently 70.94%.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 277,866 shares in the company, valued at $26,397,270. This trade represents a 15.25% decrease in their position. 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 three months, insiders have sold 61,903 shares of company stock valued at $5,889,203. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MDT shares. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America boosted their price objective on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Robert W. Baird upped their target price on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Medtronic in a report on Wednesday, September 30th. Finally, Mizuho set a $115.00 price target on shares of Medtronic in a research report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

About Medtronic

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.