First Nebraska Trust Co Purchases New Position in Medtronic PLC $MDT

First Nebraska Trust Co purchased a new stake in shares of Medtronic PLC (NYSE:MDT) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 69,352 shares of the medical technology company’s stock, valued at approximately $6,009,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Monetary Solutions Ltd purchased a new stake in shares of Medtronic in the fourth quarter worth approximately $27,000. Anfield Capital Management LLC boosted its position in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. Acumen Wealth Advisors LLC bought a new stake in Medtronic during the fourth quarter worth $29,000. Imprint Wealth LLC bought a new stake in Medtronic during the third quarter worth $31,000. Finally, Basepoint Wealth LLC purchased a new stake in Medtronic in the 4th quarter valued at $32,000. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MDT shares. Needham & Company LLC restated a “buy” rating and set a $101.00 price objective on shares of Medtronic in a research note on Wednesday, June 17th. Robert W. Baird reduced their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Stifel Nicolaus set a $80.00 target price on shares of Medtronic in a report on Wednesday, June 3rd. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Wells Fargo & Company cut their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.83.

Medtronic Stock Performance

Shares of Medtronic stock opened at $85.64 on Friday. The business’s fifty day simple moving average is $80.94 and its 200 day simple moving average is $87.07. 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 12 month low of $73.31 and a 12 month high of $106.33. The firm has a market capitalization of $109.62 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.29 and a beta of 0.56.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a dividend of $0.72 per share. The ex-dividend date was Friday, June 26th. This is an increase from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.4%. Medtronic’s dividend payout ratio (DPR) is currently 77.21%.

Medtronic Profile

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).