Medtronic PLC $MDT Shares Bought by Amalgamated Bank

Amalgamated Bank raised its position in Medtronic PLC (NYSE:MDT) by 0.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 252,260 shares of the medical technology company’s stock after acquiring an additional 308 shares during the period. Amalgamated Bank’s holdings in Medtronic were worth $21,990,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Red Spruce Capital LLC lifted its stake in shares of Medtronic by 0.5% in the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after acquiring an additional 118 shares during the period. Certior Financial Group LLC lifted its stake in shares of Medtronic by 3.7% in the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after acquiring an additional 122 shares during the period. PrairieView Partners LLC increased its holdings in shares of Medtronic by 3.6% in the 2nd quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 128 shares in the last quarter. Motco increased its holdings in shares of Medtronic by 27.0% in the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock valued at $57,000 after purchasing an additional 135 shares in the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Medtronic by 3.1% in the 1st quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company’s stock valued at $410,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In related news, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.26% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $91.63 on Thursday. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The company has a market cap of $117.53 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a fifty day moving average of $94.39 and a 200-day moving average of $89.61.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’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, equities analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s dividend payout ratio is presently 78.24%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research analyst reports. Evercore ISI increased their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Royal Bank Of Canada restated an “outperform” rating and set a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. Truist Financial raised their target price on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Argus lifted their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, UBS Group lifted their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.82.

Medtronic Profile

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.