Camden National Bank Sells 2,051 Shares of Medtronic PLC $MDT

Camden National Bank decreased its position in Medtronic PLC (NYSE:MDT) by 1.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 120,164 shares of the medical technology company’s stock after selling 2,051 shares during the period. Medtronic makes up about 1.5% of Camden National Bank’s investment portfolio, making the stock its 26th biggest holding. Camden National Bank’s holdings in Medtronic were worth $10,475,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $26,000. Twin Tree Management LP bought a new position in Medtronic in the first quarter worth $29,000. Activest Wealth Management boosted its stake 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 buying an additional 322 shares in the last quarter. Investment Management Corp VA ADV increased its holdings in Medtronic by 144.2% in the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after buying an additional 238 shares during the period. Finally, GFG Capital LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at $36,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were bought at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Up 1.8%

NYSE MDT opened at $101.16 on Friday. The stock’s 50 day simple moving average is $95.04 and its 200 day simple moving average is $90.88. Medtronic PLC has a one year low of $79.29 and a one year high of $102.59. The firm has a market cap of $129.76 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Argus upped their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Sanford C. Bernstein set a $111.00 price objective on Medtronic in a research note on Wednesday. Daiwa Capital Markets increased their target price on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Barclays boosted their price target on Medtronic from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.72.

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.