Cape ANN Savings Bank Acquires 7,805 Shares of Medtronic PLC $MDT

Cape ANN Savings Bank boosted its holdings in Medtronic PLC (NYSE:MDT) by 271.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,677 shares of the medical technology company’s stock after acquiring an additional 7,805 shares during the quarter. Cape ANN Savings Bank’s holdings in Medtronic were worth $931,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Corundum Group Inc. grew its holdings in shares of Medtronic by 4.1% during the second quarter. Corundum Group Inc. now owns 8,359 shares of the medical technology company’s stock worth $729,000 after purchasing an additional 328 shares in the last quarter. Boyar Asset Management Inc. lifted its position in Medtronic by 8.9% during the second quarter. Boyar Asset Management Inc. now owns 6,169 shares of the medical technology company’s stock valued at $538,000 after purchasing an additional 506 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in Medtronic by 18.1% during the second quarter. Stock Yards Bank & Trust Co. now owns 13,334 shares of the medical technology company’s stock valued at $1,162,000 after purchasing an additional 2,045 shares during the last quarter. Ascent Group LLC grew its stake in Medtronic by 121.9% in the 2nd quarter. Ascent Group LLC now owns 38,301 shares of the medical technology company’s stock worth $3,339,000 after buying an additional 21,038 shares in the last quarter. Finally, Two Point Capital Management Inc. bought a new position in shares of Medtronic in the 2nd quarter worth $6,382,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 2.3%

NYSE MDT opened at $97.63 on Friday. The firm has a market cap of $125.23 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $97.94. The stock has a 50-day moving average of $92.94 and a 200-day moving average of $88.50. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $1.23 EPS. Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio is presently 78.24%.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value 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. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on MDT shares. Sanford C. Bernstein upped their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. UBS Group lifted their price target on Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Friday. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Robert W. Baird upped their target price on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

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.