Keybank National Association OH Purchases 125,902 Shares of Medtronic PLC $MDT

Keybank National Association OH increased its position in Medtronic PLC (NYSE:MDT) by 35.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 484,132 shares of the medical technology company’s stock after buying an additional 125,902 shares during the period. Keybank National Association OH’s holdings in Medtronic were worth $41,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. State Street Corp increased its stake in shares of Medtronic by 2.0% during the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after purchasing an additional 1,419,730 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after purchasing an additional 3,880,174 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Medtronic by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after purchasing an additional 231,919 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent research reports. Robert W. Baird decreased their price objective on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Citigroup cut their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Medtronic in a research report on Tuesday, June 16th. Stifel Nicolaus set a $80.00 price target on Medtronic in a research note on Wednesday, June 3rd. Finally, Mizuho lowered their price objective on Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Medtronic Stock Performance

NYSE:MDT opened at $83.07 on Friday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The firm’s fifty day simple moving average is $79.04 and its 200 day simple moving average is $89.11. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $106.33 billion, a PE ratio of 22.27, a PEG ratio of 2.12 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date is Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. Medtronic’s dividend payout ratio is presently 77.21%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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).